Fullerton Boosts Investment in Lendingkart for MSME Growth

Lendingkart, India's largest fintech company in the MSME lending space, is set to scale new heights as Fullerton Financial Holdings (FFH), an existing investor through its affiliate, is acquiring a controlling stake in the company. This strategic investment marks a significant milestone in Lendingkart’s journey to revolutionize access to finance for micro, small, and medium enterprises (MSMEs) across the country and further solidify its position as a market leader in digital lending. FFH, a wholly owned independent portfolio company of Singapore-headquartered investment company, Temasek, is committing up to a further INR 252 Cr, marking a pivotal moment in the Indian fintech’s journey. As a result of the investment, FFH will become a majority controlling shareholder in Lendingkart; this is subject to regulatory approval.

The capital infusion from FFH will enable Lendingkart to deepen its reach in underserved markets and enhance its technology, taking a giant leap towards fulfilling its mission of fostering financial inclusion for small businesses in India.

Commenting on the investment, Mr. Hong Ping Yeo, CEO of FFH, said: “FFH’s mission since inception is to be the catalyst in enriching lives and enabling success of customers and communities served by our portfolio companies across Asia. Our investments in Lendingkart are a testament to our continued belief in the MSME opportunity in India and that well governed, scalable franchises can bring significant value to small businesses.”

Said Mr. Harshvardhan Lunia, Founder & Managing Director of Lendingkart: “We are excited to further deepen our partnership with Fullerton Financial Holdings (FFH) in what will truly be a transformative phase of our journey. This investment represents a vote of confidence in Lendingkart's ability to transform the MSME lending landscape. Our goal is to replicate FFH’s past successes in the Indian financial market. With FFH’s backing, we aim to bring more small businesses into the formal lending ecosystem and stay true to our mission: Simplifying MSME Finance.” 

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