Loanmeet gets seed funding

Loanmeet gets seed funding



Digital lending platform Loanmeet has received an undisclosed amount of seed funding from Chinese entrepreneurs and investors Cao Yibin and Huang Wei, and co-founder and CEO Madhusudan E, as per a company statement.

The Bangalore-based startup will use the money for expanding its customer base. LoanMeet provides short-term working capital loans to retailers for inventory financing, and claims to be growing at roughly 50 per cent month-over-month. It was founded by Sunil Kumar and Ritesh Singh in 2016. “LoanMeet is disrupting the multi-billion dollar supply chain finance in offline retail. It is leveraging technology to fundamentally transform inventory financing for retailers,” said Yibin.

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