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Spotlight: Can Lendingkart turn around with Temasek’s Fullerton at the helm?

VCCircle

VCCircle · 9m ago

Spotlight: Can Lendingkart turn around with Temasek’s Fullerton at the helm?

Singapore state investment firm Temasek has acquired a majority stake in Indian non-bank lender Lendingkart. This comes just months after Fullerton Financial Holdings, a unit of Temasek, sold its stake in another Indian non-bank lender. Lendingkart aims to leverage Temasek's expertise and resources to enhance its operations and grow its lending business. The move is expected to boost Lendingkart's prospects and potential for turning around its financial performance.

Related News

Temasek’s Fullerton Acquires Controlling Stake In Lendingkart

Inc42 · 10m ago

Temasek’s Fullerton Acquires Controlling Stake In Lendingkart

Fullerton Financial Holdings (FFH) has announced its plan to acquire a majority stake in Lendingkart, a startup in India. FFH, a portfolio company of Temasek, will invest INR 252 crore in Lendingkart. The additional capital injection will assist Lendingkart in expanding its presence in untapped markets and improving its technological capabilities.

ETtech Exclusive: Inside the cash crisis, big valuation cut at Lendingkart

Economic Times

Economic Times · 10m ago

ETtech Exclusive: Inside the cash crisis, big valuation cut at Lendingkart

Lendingkart, an MSME-focused lending platform, is facing a valuation cut due to a cash crisis and stress in the unsecured loan market. The company is negotiating a new funding deal with existing investor Fullerton Financial Holdings at a valuation of $100 million, down from $350 million in its last equity fundraise. Fullerton is looking to increase its stake in the company to more than 60% and become a majority shareholder. Lendingkart had shown a turnaround in FY23, but its financial position has deteriorated, impacting its ability to attract new funding.

Lendingkart investor Fullerton Financial Holding commits fresh infusion of Rs. 252 crore

Business Today

Business Today · 10m ago

Lendingkart investor Fullerton Financial Holding commits fresh infusion of Rs. 252 crore

Fullerton Financial Holding (FFH), an existing investor of Lendingkart, will invest INR 252 crore into the company, becoming its controlling shareholder. The funds will be used to expand Lendingkart's presence in underserved markets and improve its technology, furthering its goal of promoting financial inclusion for small businesses in India. FFH CEO, Hong Ping Yeo, expressed belief in the Indian MSME opportunity and the value scalable franchises can bring to small businesses. Lendingkart, founded in 2014, has raised approximately INR 1050 crore and claims to have disbursed over INR 20,000 crore in loans to MSMEs across India.

Lendingkart's profit plummets in FY24 on the back of soaring expenses

YourStory

YourStory · 10m ago

Lendingkart's profit plummets in FY24 on the back of soaring expenses

Lendingkart Technologies, a fintech firm, saw its revenue rise by 36.59% in FY24 to reach Rs 1,090.63 crore. However, profit dropped 97% to Rs 3.25 crore due to a significant increase in expenses. Other income more than doubled, driven by a surge in commission income from insurance and interest income on bank deposits. Total expenses rose by 58.92%, mainly due to higher operational costs. The company recently announced that Fullerton Financial Holdings has acquired a controlling stake in Lendingkart for Rs 252 crore.

Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures

Entrackr

Entrackr · 1y ago

Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures

Small and medium enterprises focused digital lending platform Lendingkart has secured Rs 100 crore ($12 million) in debt and Rs 8 crore (nearly $1 million) in equity from Stride Ventures. This is the second major debt closure by the Ahmedabad-based firm in the past year. The board at Lendingkart has passed a board resolution to issue 10,000 non-convertible debentures and 454 Series D5 CCPS to raise Rs 108 crore or $13 million, its regulatory filing accessed from the RoC shows. As per the filings, the Temasek-backed company has raised Rs 318 crore ($38 million) in debt to date. Lendingkart will receive the debt fund in two tranches of Rs 50 crore ($6 million) each and it will carry a coupon rate of 14% per annum. According to the startup data intelligence platform TheKredible, the company has been valued at around $690 million post-allotment. Just last month, LendingKart raised $10 million through external commercial borrowing (ECBs) from a fund managed by BlueOrchard. As of now, Lenskart has mopped up Rs 1,050 crore ($126 million) in equity capital from investors like Fullerton, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia and India Quotient. Lendingkart disburses loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSME business owners. As per its website, it has disbursed over Rs 18,700 crore to over 300,000 businesses present in 4,100 cities. Lendingkart performed well in FY23 as its revenue from operations grew by 33.4% to Rs 858 crore. Meanwhile, the firm also posted Rs 119 crore profit in the same period. It’s yet to file annual financial results for FY24. As per a media report, the company is planning for an initial public offering (IPO) by next year. Lenskart is targeting to cross Rs 10,000 crore in assets under management before going public.

Startup news and updates: Daily roundup (March 28, 2025)

YourStory

YourStory · 5m ago

Startup news and updates: Daily roundup (March 28, 2025)

KRAFTON acquired a controlling stake in Nautilus Mobile for Rs 118 crore, aiming to enhance its Indian market presence. Online investment platform smallcase raised $50 million in a Series D round led by Elev8 Venture Partners. Zaggle Prepaid Ocean Services acquired a majority stake in EffiaSoft to expand globally. Expertia AI secured pre-Series A funding led by Rockstud Capital. Lendingkart completed Series E funding with Fullerton Financial Holdings acquiring a majority stake to boost growth and technology.

Slack’s new CEO looks to bring stability after a turbulent period

TechCrunch · 1y ago

Slack’s new CEO looks to bring stability after a turbulent period

Slack has gone through three CEOs in less than a year, with Denise Dresser being the latest to take the helm. Despite the challenges of stepping into a leadership role under such circumstances, Dresser is focused on building on what her predecessors did while bringing her own touch to the job. Slack's growth has slowed since its acquisition by Salesforce, and Dresser's task is to turn this around by finding new business opportunities and striking a balance between attracting non-Salesforce customers and serving existing Salesforce users. She also sees potential in leveraging generative AI to enhance collaboration and knowledge-sharing on the platform.

Lendingkart ropes in former Paytm Payments Bank exec as Group CFO

VCCircle

VCCircle · 1y ago

Lendingkart ropes in former Paytm Payments Bank exec as Group CFO

Lendingkart, an Indian lendingtech company, has appointed Mukund Barsagade as its group chief financial officer. Barsagade, who previously served as CFO of Paytm Payments Bank, will lead the finance, capital markets, legal, and secretarial functions at Lendingkart. With over 28 years of experience in the BFSI and IT sectors, Barsagade will play a crucial role in driving the company's growth in the lending tech space for micro, small and medium enterprises in India. Lendingkart provides loans to MSMEs and competes with companies like Aye Finance, Clix Capital, and FlexiLoans.

Lendingkart Hires Ex-Paytm Executive Mukund Barsagade As CFO

Inc42 · 1y ago

Lendingkart Hires Ex-Paytm Executive Mukund Barsagade As CFO

Fintech startup Lendingkart has appointed Mukund Barsagade as its group chief financial officer. Barsagade, who has 28 years of experience in the BFSI and IT sectors, previously served as the CFO at Paytm Payments Bank, Utkarsh Small Finance Bank, and Fino Payments Bank. In his new role, Barsagade will lead the finance, capital markets, legal, and secretarial functions at Lendingkart, helping shape the company's next phase of growth. Lendingkart turned profitable in FY23 and offers loans to micro, small, and medium enterprises (MSMEs).

Schneider said to be in talks to buy Temasek’s stake in Indian JV Schneider Electric

Economic Times

Economic Times · 1m ago

Schneider said to be in talks to buy Temasek’s stake in Indian JV Schneider Electric

Schneider Electric SE is in discussions to acquire Temasek Holdings' 35% stake in Schneider Electric India Pvt for approximately $1 billion, potentially valuing the venture at around $5 billion, including debt. Temasek has been considering its exit options, which could include a sale or an initial public offering. Schneider Electric, which owns 65% of the joint venture, is focused on expanding in the Indian market amidst growing merger and acquisition activity.

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