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Exclusive: Lendingkart set to raise $100 Mn in Series F

EntrackrEntrackr · 1m ago
Exclusive: Lendingkart set to raise $100 Mn in Series F
Medial

Exclusive: Lendingkart set to raise $100 Mn in Series F Lendingkart, a non-banking financial company (NBFC), provides working capital and business loans to SMEs across India, typically with average ticket sizes ranging between Rs 5–6 lakh. Temasek-owned Fullerton’s newly acquired fintech firm Lendingkart is set to raise Rs 850 crore (about $100 million) in its Series F round. This will be the company’s first significant fundraise since Fullerton bought a majority stake in March. As per regulatory filings sourced from the Registrar of Companies, the board of Lendingkart has approved the issuance of 9,04,160 Series F preference shares at Rs 9,401 per share to mop up the proposed capital. Fullerton Financial will spearhead the round with Rs 511 crore, while Bertelsmann Nederland, Mayfield India, and Saama Capital will contribute Rs 71 crore, Rs 60 crore, and Rs 47 crore, respectively. Grand Anicut, Sistema Asia Fund, India Quotient, Darrin Capital, and a clutch of angels such as co-founders Raichand Lunia and Harshvardhan Lunia, along with Mukul Sachan, will also join the round. According to the filing, the proceeds will be deployed towards expansion and growth initiatives across the firm and its subsidiaries, including its wholly owned unit Lendingkart Finance, along with general corporate purposes. Post-allotment, Fullerton Financial will command 58.35% of the company’s shareholding, while Bertelsmann Nederland, Mayfield India, and Saama Capital will hold 8.20%, 7.25%, and 5.40%, respectively. In a response to Entrackr's queries, a Lendingkart spokesperson said, "Fullerton Financial Private Limited acquired a circa 56% stake in Lendingkart on 27 March 2025. Lendingkart is proposing to raise up to INR 850 crores in its latest capital raise vide preferential offer led by Fullerton Financial Private Limited for its expansion and growth." Lendingkart, a non-banking financial company (NBFC), provides working capital and business loans to SMEs across India, typically with average ticket sizes ranging between Rs 5–6 lakh. The firm claims to have disbursed over Rs 18,700 crore to 300,000+ businesses to date. Before the acquisition, Lendingkart 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. For FY24, the company reported a 36% year-on-year rise in revenue to Rs 1,090 crore, while its profits dipped 5.9% to Rs 175 crore. The firm has not yet filed its FY25 financials.

Vahan.ai secures strategic investment from Temasek’s LemmaTree, acquires L.earn

EntrackrEntrackr · 5m ago
Vahan.ai secures strategic investment from Temasek’s LemmaTree, acquires L.earn
Medial

Vahan.ai, a recruitment platform for blue-collar workers, has announced a strategic investment from LemmaTree, an investment firm founded by Temasek. Alongside this transaction, Vahan.ai has also acquired L.earn, the digital learning and upskilling tech platform of GoodWorker, which was backed by LemmaTree. The proceeds will primarily be used to enhance Vahan.ai’s proprietary tech stack, including the development of advanced AI capabilities tailored for large-scale, multilingual recruitment. Based in Bengaluru, the company says that acquiring L.earn adds a powerful skilling layer to its offering. L.earn provides mobile-first, vernacular content tailored for gig and frontline workers in sectors like logistics, manufacturing, and retail. By embedding modular skilling journeys directly into the job-seeking process, Vahan.ai will empower workers to improve employability, access better-paying roles, and build long-term careers. According to market research, India’s blue-collar workforce is set to drive 70% of the country’s new employment growth by 2030. This segment is also experiencing wage increases, with blue-collar jobs growing at a rate of 5.7% annually. Vahan has placed over 1 million workers across more than 920 cities and currently facilitates approximately 40,000 job placements per month for employers such as Zepto, Swiggy, Blinkit, and Zomato. The platform plans to expand support to eight additional Indian languages, enabling deeper access for job seekers in Tier 2 and Tier 3 markets. Vahan.ai also aims to enter new high-growth sectors while accelerating its footprint across India and select international markets such as Southeast Asia and the MENA region. Vahan bridges gaps in digital literacy, language barriers, and infrastructure. At its core is a voice-based AI recruiter powered by OpenAI’s GPT-4o, capable of conducting human-like conversations with job seekers in English and Hindi over a simple phone call. This AI layer streamlines the hiring journey—from job discovery and application to interview scheduling—overcoming traditional barriers like digital literacy, language, and infrastructure. To date, Vahan has raised $23.7 million from Khosla Ventures and others.

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