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  • Lendingkart platform ‘2gthr’ disbursements cross $1Bn milestone evaluating 1Mn MSMEs applications in partnership with 80+ banks and financial institutions

    Published on October 20, 2021

    • 1.3lakh MSMEs have been extended credit access till date providing service across country to more than 10,000 pincodes
    • Facilitated largest end to end seamless collaboration across financial ecosystem since its launch
    • Resulting in nation’s largest active data repository in use for MSMEs financial inclusion

    Lendingkart, India’s leading financial technology company today announced disbursement of loans worth $ 1 Billion empowering 1.3 lakh MSMEs across India since the commencement of its operations. As the largest digital lending/NBFC pioneering speedy, convenient, and collateral free MSME financing, Lendingkart’s digital orientation, evaluation, servicing, and technological capabilities has enabled credit access to over a million MSMEs.

    Based on Lendingkart’s proprietary underwriting model, “Cred8”, a credit Intelligence platform has provided credit sanctioned loans to 250K MSMEs worth US$1.6 billion. building one of the largest databases in the country capturing 3.5 billion data points for MSME applications worth $8.5 billion.

    With the capability of digital originations along with highly advanced O2O, Lendingkart’s “Xlr8” concluded ~600 partnerships which has witnessed multifold year on year growth. Xlr8 platform enables the online partners to track their loan journey status and SaaS platform empowering offline partners with a one stop solution to self-serve, create and fulfill their applications without any manager. The platform is accessible to Lendingkart proprietary Zero Touch Technology that helps in making the process quick with minimal requirements of documents.

    The company has maintained its strong portfolio quality having collected more than 2M EMIs till date through electronic and physical repayment instruments leveraging its 700+ collection agents, 60+ collection agencies incorporating various intelligence capabilities such as skip tracing, geo tagging and feedback into underwriting engine. It is also in progressive stages to build a powerful collections intelligence platform “Collec10”, an end to end digital connect, field presence, risk prioritization and such advanced capabilities built in single platform.

    Lendingkart continues to disrupt and innovate by powering the entire ecosystem with its E2E asset servicing platform “2gthr”, ensuring a seamless and friction free onboarding capabilities for Banks and NBFCs to scale their lending operations to MSMEs across the country. Within a span of 18 months, 2gthr has become the largest co-lending platform successfully onboarding 7 large banks/ NBFCs and several more in the pipeline with credit lines of more than $280 Mn. The company has also raised more than US$650 million in debt capital from more than 80 partners till date reinforcing the trust and support from the partners for Lendingkart.

    Commenting on the milestone, Mr Harshvardhan Lunia, Co-founder and CEO at Lendingkart said, “Since inception, Lendingkart has been committed to strengthen financial inclusion in the country making working capital loan more accessible to MSMEs across India.  Through continued investments in robust technological innovations to digitize the lending ecosystem and successful partnerships, the company has successfully disbursed loans to 130K+ MSMEs worth US$1 Billion. With this development, the company consolidates its presence as a market leader in the MSME lending setting new milestones and industry first innovations having achieved $ 100 Million on platform business. As we move ahead, we will continue to optimize our tech platforms to explore the unexplored and support Indian MSMEs with their evolving needs.”

    Lendingkart provides short term collateral free working capital loans to MSMEs with minimal paperwork within 72 hours. These include businesses that have little or no credit history available. The loan ticket sizes range from as low as Rs 50,000 up to 2 crores for a period of 1 to 36 months. The company analyses 5000+ data points from various sources and leverages robust in-house technology tools based on big data analytics and machine learning algorithms to evaluate creditworthiness. Lendingkart also offers several customized financial products to address today’s diverse business needs in competitive environments.

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