Targets Rs 1,500 crore loan disbursement in next one year from Rs 500 crore currently
Digital lending platform for SMEs Lendingkart Technologies, through its arm Lendingkart Finance eyes Rs 1,500-1,600 crore worth of loan disbursements over the next one year, according to top company officials.
The 3-year-old city-based fintech startup looks at a massive growth over its current loan portfolio of around Rs 500 crore as it increases its focus on SME lending in Gujarat, where a large number of SMEs from variety of sectors are located.
“Initially we started with lending to e-commerce platforms, but now we look at higher share of loan portfolio coming from non e-commece players. Gujarat has witnessed phenomenal growth in the past few years and SMEs have played critical role in development of the state,” said Mukul Sachan, co-founder COO, Lendingkart Technologies.
He added that so far the company has disbursed loans to over 1,000 SMEs in Gujarat’s tier 2 and tier 3 cities such as Morbi, Deesa, Junagadh, Nadiad and Bhavnagar.
The company has raised a total funding of $45 million or Rs 288 crore through a mix of debt and equity since June last year.
“We registered a robust growth of 300 per cent over last year in loan disbursement. In next one year, we
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