Fullerton Boosts Investment in Lendingkart for MSME Growth

Lendingkart, India’s largest fintech company in the MSME lending space, is set to reach new milestones as Fullerton Financial Holdings (FFH), an existing investor through its affiliate, acquires a controlling stake in the company. This strategic move signifies a significant phase in Lendingkart’s mission to revolutionize access to finance for micro, small, and medium enterprises (MSMEs) across India and further cements its position as a leader in digital lending.

FFH, a wholly-owned independent portfolio company of Singapore-based investment firm Temasek, is committing up to an additional INR 252 crore to Lendingkart. This capital infusion marks a pivotal moment for the Indian fintech company, with FFH becoming a majority controlling shareholder, pending regulatory approval.

The new investment will enable Lendingkart to expand its reach in underserved markets, while also enhancing its technology, thus propelling the company toward its goal of advancing financial inclusion for small businesses across India.

Mr. Hong Ping Yeo, CEO of Fullerton Financial Holdings, expressed his optimism about the partnership, stating: “FFH’s mission since inception is to be the catalyst in enriching lives and enabling success of customers and communities served by our portfolio companies across Asia. Our investments in Lendingkart are a testament to our continued belief in the MSME opportunity in India and that well-governed, scalable franchises can bring significant value to small businesses.”

Harshvardhan Lunia, Founder and Managing Director of Lendingkart, added: “We are excited to further deepen our partnership with Fullerton Financial Holdings (FFH) in what will truly be a transformative phase of our journey. This investment represents a vote of confidence in Lendingkart’s ability to transform the MSME lending landscape. Our goal is to replicate FFH’s past successes in the Indian financial market. With FFH’s backing, we aim to bring more small businesses into the formal lending ecosystem and stay true to our mission: Simplifying MSME Finance.”

Disclaimer: This article provides an overview of Fullerton Financial Holdings’ investment in Lendingkart and its impact on MSME growth in India. While every effort has been made to ensure the accuracy of the information, readers are advised to verify details through official sources and consult professionals before making financial decisions based on the content. This article is for informational purposes only.