Lendingkart to Raise $100 Million in Series F Led by Fullerton
- Lendingkart to raise Rs 850 crore ($100M) in Series F
- Fullerton Financial to lead the round with Rs 511 crore
- Funds to support expansion, Lendingkart Finance, and general corporate needs
Lendingkart, the SME-focused lending platform recently acquired by Fullerton, is preparing to raise Rs 850 crore (about $100 million) in its Series F funding round. This will be the company’s first major capital infusion since Fullerton bought a majority stake in March 2025.
According to regulatory filings, Lendingkart’s board has approved the issuance of 9,04,160 Series F preference shares at Rs 9,401 per share to secure the new investment. Fullerton Financial will anchor the round with Rs 511 crore, while Bertelsmann Nederland, Mayfield India, and Saama Capital will invest Rs 71 crore, Rs 60 crore, and Rs 47 crore, respectively. Other participants include Grand Anicut, Sistema Asia Fund, India Quotient, Darrin Capital, and angel investors such as co-founders Raichand Lunia and Harshvardhan Lunia, along with Mukul Sachan.
The company plans to use the fresh funds to fuel its expansion strategy across its businesses and subsidiaries, including its lending arm, Lendingkart Finance, and for general corporate purposes.
Once the allotment is completed, Fullerton Financial’s stake will increase to 58.35%, strengthening its control over the fintech NBFC. Bertelsmann Nederland, Mayfield India, and Saama Capital will hold 8.20%, 7.25%, and 5.40%, respectively.
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Lendingkart provides working capital and business loans to small and medium businesses across India, with typical loan sizes of Rs 5-6 lakh. The company has disbursed more than Rs 18,700 crore to over 300,000 businesses so far.
Before Fullerton’s acquisition, the firm had raised Rs 1,050 crore ($126 Million) in equity from top global investors. In FY24, Lendingkart posted a 36% rise in revenue to Rs 1,090 crore, while profit slipped 5.9% to Rs 175 crore. FY25 financials are yet to be filed.
