Lendingkart Partners with Tata Capital to Boost MSME Lending via 2gthr Platform
26 Aug, 2024
Lendingkart, a leading player in the fintech industry, is making significant strides in the Indian financial landscape by forging strategic alliances aimed at enhancing credit accessibility for micro, small, and medium enterprises (MSMEs). In its latest move, the company has partnered with Tata Capital, the financial services arm of the Tata Group, to offer unsecured business loans to MSMEs across the country. This collaboration is set to address the critical financing needs of underserved businesses, further solidifying Lendingkart’s commitment to empowering entrepreneurs through innovative financial solutions.
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Strategic Partnership Announcement:
- Lendingkart, a prominent fintech company, has joined forces with Tata Capital, the financial services subsidiary of Tata Group, to provide unsecured business loans to micro, small, and medium enterprises (MSMEs) across India.
- Lendingkart, a prominent fintech company, has joined forces with Tata Capital, the financial services subsidiary of Tata Group, to provide unsecured business loans to micro, small, and medium enterprises (MSMEs) across India.
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Lendingkart’s SaaS Platform and Loan Disbursement:
- In a recent announcement, Lendingkart highlighted that this strategic partnership aims to expand credit accessibility for MSMEs through its software-as-a-service (SaaS) platform, 2gthr. The platform, which oversees the entire financial journey of customers—from application to underwriting, disbursal, and collections management—has already facilitated the disbursement of over 300,000 loans.
- In a recent announcement, Lendingkart highlighted that this strategic partnership aims to expand credit accessibility for MSMEs through its software-as-a-service (SaaS) platform, 2gthr. The platform, which oversees the entire financial journey of customers—from application to underwriting, disbursal, and collections management—has already facilitated the disbursement of over 300,000 loans.
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Partnership’s Impact on MSME Financing:
- Lendingkart’s 2gthr has established collaborations with approximately 30 financial institutions, including Tata Capital, as part of its co-lending initiative. The partnership with Tata Capital is seen as a significant step towards addressing the financial needs of underserved businesses and enhancing operational efficiency in the lending process.
- Lendingkart’s 2gthr has established collaborations with approximately 30 financial institutions, including Tata Capital, as part of its co-lending initiative. The partnership with Tata Capital is seen as a significant step towards addressing the financial needs of underserved businesses and enhancing operational efficiency in the lending process.
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Lendingkart’s Recent Funding and Expansion Plans:
- Earlier this year, Lendingkart secured $10 million (INR 83.5 Cr) through external commercial borrowing from a fund managed by Swiss impact investor BlueOrchard. The company plans to channel this capital into furthering its mission of providing financing solutions to MSMEs.
