Lendingkart Finance Limited has raised fresh debt funding from private sector bank YES Bank. The funds will be utilised to further build the loan book as the company expands their reach to SMEs operating in tier 3 and below cities facing lack of formal credit facilities, the company said in a statement.
Harshvardhan Lunia, CEO and Co-founder, Lendingkart Technologies, said “At Lendingkart Finance, as we expand our reach to meet the growing needs of millions of small businesses in the country, we are extremely pleased to have Yes Bank on-board supporting our vision. Yes Bank is a dynamic and innovative institution with sound knowledge of the Indian financial sector while also undertaking substantial work towards promoting FinTech in the country. We firmly believe that our relationship will prove to be mutually advantageous, complementing each other’s strength as we drive true financial inclusion.”