Digital lending platform Lendingkart which is dedicated to helping entrepreneurs and small businesses with working capital finance has recently raised $10 million in round of Series A round from Saama Capital and Mayfield Fund.
Lendingkart will deploy the capital infusion to bolster its technology platform and artificially-intelligent Big Data Scoring System, and most importantly to expand its team.
Co-founded by Harshvardhan Lunia & Mukul Sachan, Lendingkart had raised a seed funding round led by Ashish Goenka (Ultra HNI) and India Quotient just a few months ago.
Commenting on the matter, Lunia said, “Mayfield and Saama had the right alignment with our vision. It really helped that the partners had a banking background. They understood us so well that we only had one meeting before the term-sheet. Both have made investments in the lending space earlier and we are privileged to get them on board.”