Fintech firm Lendingkart secures $10 million in external commercial borrowing from BlueOrchard, a global impact investment manager under Schroders Group, to bolster lending efforts for MSMEs.

With a net profit of Rs 116 crore in FY23, the company previously secured Rs 200 crore in long-term debt funding from EvolutionX Debt Capital in June 2023.

Founded in 2014 by Lunia, Lendingkart operates nationwide with offices in Ahmedabad, Bengaluru, Mumbai, and Gurugram. Leveraging big data analysis and machine learning algorithms, Lendingkart offers advanced technology tools enabling lenders to assess borrowers’ creditworthiness effectively.