Lendingkart

What Lendingkart does

Lendingkart is an RBI-registered Indian non-banking financial company that extends collateral-free unsecured business loans of up to ₹50,00,000 to micro, small, and medium enterprises, with interest rates ranging from 13.5% to 35% per annum, a 1-3 year tenure, and processing fees capped at 3%. Since founding in 2014-15, the company has disbursed more than 3,00,000 loans to over 2,50,000 MSMEs across 4,100+ towns and 135 cities in 22 Indian states, using a 100% digital application-to-disbursal workflow that completes in roughly three working days.

The underlying platform is a cloud-hosted (AWS, GCP) digital lending stack with automated credit assessment that ingests bank statements, GST filings, credit bureau reports, and account aggregator data through integrations with Perfios, Finbox, Karza, CRIF, Transunion CIBIL, and Experian. Digital KYC, e-sign, and e-NACH are wired through Digio, IDFY, Signzy, Razorpay, and Worldline; AML/PEP screening, fraud indicators, and field inspections are layered via Trackwizz, C-DOT, Vymo, and Astute. After acquiring Upwards Fintech in February 2023 for ₹100 crore, Lendingkart also distributes personal loans targeting low-income Indian borrowers. Adjacent product lines include gold loans, loan against property, planned credit cards, and Credit on UPI.

Revenue is generated primarily through interest income on the loan book plus one-time processing fees; the firm has raised over ₹1,050 crore in equity (Bertelsmann, Mayfield, Saama, India Quotient, Sistema, Fullerton/Temasek) and ₹318 crore in debt (Stride Ventures, EvolutionX, BlueOrchard, InCred/Yubi) to date. Following Fullerton Financial Holdings' October 2024 increase in stake from 38% to 77% (post a valuation collapse from $700M to under $100M) and the founder's subsequent NCLT petition, the company is operating under a new controlling shareholder while executing an ₹850 crore equity raise and pursuing an IPO targeting ₹10,000 crore in AUM.

Name

Lendingkart

Legal name

Lendingkart Finance Limited

Website

https://lendingkart.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Lendingkart is an RBI-registered Indian NBFC providing collateral-free unsecured business loans of up to ₹50 lakh to MSMEs via a 100% digital platform, having served 2.5 lakh+ borrowers across 4,100+ towns and cities since 2014-15.

Ownership category

akta.pro rank

Product category

MSME Digital Lending

NAICS

Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industry

Prime Unsecured Personal Loans (Installment) (FSAKAAAA)

Keywords

• MSME lending
• Unsecured business loans
• Working capital financing
• Digital lending platform
• Fintech NBFC

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income on Loans: Lendingkart earns revenue primarily through interest charged on unsecured business loans extended to MSMEs. Interest rates range from 13.5% to 35% per annum depending on loan type, amount, and credit profile of the borrower.
2. Processing Fees: The company charges processing fees of up to 3% of the loan amount (excluding GST) for business loans. Additional documentation charges of Rs 1,200 (inc. GST) apply.
3. Personal Loans via Upwards: Following the acquisition of Upwards, Lendingkart also offers personal loans through the Upwards platform, expanding revenue streams beyond MSME-focused business loans.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Lendingkart is an RBI-registered NBFC that provides collateral-free unsecured business loans up to ₹50,00,000 to micro, small and medium enterprises (MSMEs) in India. The company operates a 100% digital lending platform enabling loan approval and disbursal within 3 working days, using AI/ML-driven credit assessment based on bank statements, GST filings and credit bureau data. It also distributes personal loans through its acquired Upwards platform targeting low-income segments.

Product overview

Lendingkart operates as a digital lending platform for MSMEs offering a portfolio of financial products anchored by its core Unsecured Business Loan. The company has expanded from its primary business lending product into personal loans (via the acquired Upwards brand), and has announced plans for secured products including Gold Loans, Loan Against Property, and Credit Cards. The platform provides a 100% digital, end-to-end loan process — from application through KYC verification, credit assessment, and disbursal — accessible via website and mobile app, with loans processed using automated credit scoring and digital KYC capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Upwards: Digital lending platform offering personal loans and instant loans, acquired by Lendingkart in February 2023. Available via website and mobile app (com.goupwards).
• Lendingkart Instant Business Loans

Products and services

• Unsecured Business Loan Collateral-free unsecured business loan product offering up to ₹50,00,000 for MSMEs (proprietorships, partnerships, LLPs, Pvt. Ltd. companies, one-person companies) for working capital, business expansion, inventory, and equipment needs. Interest rates range from 13.5% to 35% per annum with tenure of 1-3 years.
• Personal Loan (via Upwards) Personal loan product distributed through the Upwards digital lending platform, targeting low-income segments and personal loan applicants in India. Interest rates range from 16% to 35% per annum with tenure of 1-3 years and pre-closure charges of 5% of principal outstanding.
• Loan Against Property Secured loan product offered against property collateral by Lendingkart Finance Limited as part of its broader financial service offerings for MSMEs in India.
• Gold Loans Loan product secured against gold collateral listed among Lendingkart Finance's financial service offerings for MSMEs in India.

Quantifiable outcome

• 3,00,000+ loans disbursed to small businesses
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration37 records

AI capability12 records

Feature3 records

Partnerships

One partnership is on record.

• Upwards (Acquisition)flagshipStrategic or Co-development Partner · 8 February 2023Acquired digital lending platform Upwards Fintech Private Limited for ₹100 crore (deal valued at ₹100-120 crore) to expand into personal loans market and enhance access to credit for low-income segments using Upwards' technology and lending capabilities.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Indifi Technologies: Indifi is an Indian digital lender providing unsecured working capital and business loans to small businesses, closely overlapping Lendingkart's core MSME product, technology stack, and target borrower segment.
• Flexiloans: Flexiloans is an Indian fintech offering collateral-free business loans to MSMEs through a fully digital platform with multiple lending partners, directly comparable to Lendingkart's underwriting and distribution model.
• Kinara Capital: Kinara Capital provides working capital and business loans to small businesses in India using alternative data for credit decisions, overlapping Lendingkart's MSME focus and tech-enabled underwriting approach.
• Axio (formerly Capital Float): Axio is an Indian digital lending platform offering consumer and small business credit products online, competing with Lendingkart in the digital-first MSME and personal loan segments.
• ZipLoan: ZipLoan provides quick, unsecured working capital loans to small businesses and retailers in India via a digital platform, directly comparable to Lendingkart's core MSME loan product and turnaround.

Broad incumbents

• Bajaj Finserv: Bajaj Finserv is a large Indian NBFC offering a broad portfolio of consumer and SME finance products including business loans, personal loans, and EMI cards, competing with Lendingkart in MSME lending at much larger scale.
• IIFL Finance: IIFL Finance is a diversified Indian NBFC providing home loans, business loans, personal loans, and gold loans, with overlapping MSME and personal loan offerings that compete with Lendingkart's product set.
• Muthoot Fincorp: Muthoot Fincorp is a large Indian NBFC focused on gold-backed and business lending to small entrepreneurs, addressing a similar MSME borrower base as Lendingkart through extensive physical distribution.
• Lending Club: Lending Club is a US-based online marketplace lender originally focused on unsecured personal and small business loans via digital underwriting, a useful global peer for Lendingkart's online MSME lending model.

Emerging players

• mPokket: mPokket is an Indian digital lender offering instant personal loans to young professionals and students, comparable to Lendingkart's Upwards platform in serving underserved consumer borrowers digitally.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/lendingkart
• Facebookfacebook.com/lendingkart
• LinkedInlinkedin.com/company/lendingkart

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds18 records

Investors19 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lendingkart