Lendingkart to Raise $100 Million in Series F Funding Round

How does a fintech lender get ₹850 crore of new money even when funding is tight? Lendingkart, one of India's biggest digital SME lenders, is getting set to raise close to $100 million in its Series F round.

The company is backed by Fullerton Financial, which is owned by Temasek. This would mark the first major fundraising of the company since Fullerton acquired a controlling stake in March 2025. It reflects confidence in the long-term growth plan of Lendingkart to expand in a highly competitive fintech lending market.

Overview of Lendingkart's Series F Fundraise

According to the regulatory filings made with the Registrar of Companies, Lendingkart's board has formally approved the issuance of 9,04,160 Series F preference shares at a premium price of ₹9,401 per share. This structured allotment will help the company mobilize the proposed ₹850 crore. The round is being positioned as a strategic investment phase aimed at strengthening Lendingkart's lending capability, expanding its credit portfolio, and widening its operational footprint across India.

Investor Participation and Funding Breakdown

Fullerton Financial is leading the Series F round with ₹511 crore, reflecting its ongoing commitment to scaling Lendingkart's growth trajectory. Other long-term investors, including Bertelsmann Nederland, Mayfield India, and Saama Capital, are also injecting fresh capital of ₹71 crore, ₹60 crore, and ₹47 crore, respectively. Additional contributions are coming from Grand Anicut, Sistema Asia Fund, India Quotient, and a number of angel investors, including co-founders Raichand Lunia and Harshvardhan Lunia, along with early supporter Mukul Sachan. This diversified set of investors participating in this round reinforces sustained institutional confidence in Lendingkart's business model and performance outlook.

Utilization of the New Capital

Lendingkart plans to utilize the raised capital for growth and efficiency enhancement. The company wants to leverage this fresh capital to accelerate growth across the group, in addition to enhancing the operational and lending infrastructure of its NBFC arm-Lendingkart Finance. A part of the capital will be utilized to support general corporate activities, including technology upgrade, underwriting capability enhancement, risk management, and compliance. Amidst growing market demand from Tier 2 & Tier 3 cities, this fresh influx positions Lendingkart to scale up more aggressively while maintaining healthy controls.

Ownership Changes After the Fundraise

At the conclusion of the Series F share issuance, Fullerton's stake in Lendingkart will rise to 58.35 percent, further solidifying its position as the majority stakeholder. Other major investors include Bertelsmann Nederland with 8.20 percent, Mayfield India with 7.25 percent, and Saama Capital with 5.40 percent. The new ownership structure shows a better consolidation under Fullerton's lead and further aligns Lendingkart with Fullerton's long-term financial services strategy for India.

Lendingkart: Business Model and Market Reach

Lendingkart is a digital-first NBFC that extends working capital and business loans to small and medium enterprises across the country. With average loan ticket sizes in the ₹5–6 lakh range, the firm has focused on supporting the underserved MSMEs that normally have access to traditional credit. Over the years, the company has already disbursed more than ₹18,700 crore to more than 300,000 businesses. Its in-house underwriting engine and Financial Performance Prior to the Round

Lendingkart said it witnessed a 36 percent year-on-year growth in revenue at ₹1,090 crore during FY24. The company, however, saw its net profit decline 5.9 percent to ₹175 crore during this period, likely on account of provisioning needs as well as expenses during the expansion stage. It is expected that audit and filing of the financials for FY25 will take some more time; however, investor participation in Series F would indicate sustained confidence in Lendingkart's operating model and growth potential. Prior to Fullerton's acquisition, Lendingkart had already raised ₹1,050 crore ($126 million) from investors such as Bertelsmann, Saama Capital, Sistema Asia, and India Quotient.

Why This Fundraise Is Important for India's MSME Credit System

The timing of this fundraising is very important because the demand for easy-to-use, digital-first credit solutions in India's MSME sector is not slowing down. Lendingkart is still the best at helping businesses in smaller cities get quick, dependable loans.

In a market characterized by heightened regulatory oversight and competitive fintech lending, well-capitalized players such as Lendingkart become relevant to maintaining credit stability and operational continuity. Fullerton's deeper involvement will strengthen the company's balance sheet, position Lendingkart to operate more efficiently at scale, and become vital for MSMEs dependent on working capital for survival and growth.

Conclusion

LendingKart has been raising $100 million through its F Series round, marking a big step toward its journey of scaling operations, strengthening the lending arm, and expanding into the market. The latest investment by Fullerton not only strengthens the financial might of the company but also provides strategic directions to the businesses. In India's dynamically changing landscape for lending, Lendingkart's renewed capital base combined with strong underwriting capabilities ensures the company always comes out as a leading player in the digital SME lending ecosystem. Future phases of expansion will see its position further solidified: as a trusted credit partner for small businesses across the country.

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FQAs

Q- What is the total amount Lendingkart is raising in Series F?

The firm is raising ₹850 crore, about $100 million.

Q- Who is leading the round of investment?

Fullerton Financial is leading this round with ₹511 crore.

Q- How will the funds be utilized?

The capital will be utilized to support expansion, strengthen the NBFC arm, and meet general corporate requirements.

Q- What will Fullerton's shareholding be after the round?

Fullerton will own 58.35 percent of the company.

Q- How many businesses has Lendingkart financed so far?

The organisation has served more than 300,000 MSMEs and disbursed over ₹18,700 crore.