Credit Card Funding: The credit card is raising Rs 75 crore in debt financing from GMO LLC, Triodos Investment.

Fintech Company Landing map announced on Saturday that it had raised Rs 75 crore debt financing from GMO LLC and Triodos Investment. According to the statement, the company will use the funds to issue loans to MSMEs (micro, small and medium-sized enterprises) in all states with real-world lending decisions using the built-in xlr8 dispensing engine and “zero contact” features.

“Lendingkart… has raised total debt financing of Rs 75 crore, Rs 25 crore in debt from GMO LLC, a leading company in the payments industry, and Rs 50 crore from Triodos Investment Management through NCD,” the statement said.

Elaborating on the announcement, Harshvardhan Lunia, CEO and Founder of Lendingkart, said, “Recently invested funds will enable us to issue working capital loans to underserved MSME customers through our platform.”

In addition, it will help the company to increase its reach and serve more pins across the country.

“Our constant endeavor

MSMEs and small businesses, and we will continue to close the financial gap for small businesses,” added Lunia.

Triodos Investment Management is a global active investor. It invests to deliver social and environmental impact along with healthy financial returns.

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GMO provides various payment and financial solutions and platforms.

“GMO is also facilitating global expansion, such as the development of services related to payments abroad, as well as strategic investments and financing of cutting-edge fintech companies abroad,” the statement said.

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