Alteria Capital invests Rs 80cr of venture debt in LendingKart

Alteria Capital has invested Rs 80 crore in LendingKart in one of the largest debt ventures ever provided to an Indian firm.

LendingKart Finance is a technology driven financial services company that helps MSME’s grow their business through digital lending. It has offices in Ahmedabad, Bengaluru and Mumbai but serves customers all over India.

“MSMEs have traditionally faced huge hurdles in growing their businesses. Our goal at LendingKart is to help them succeed by fulfilling their financial needs. The funds raised will be used to grow our ability to service the MSME community across the country and bring them into the financial mainstream,” said Harshvardhan Lunia, co-founder and CEO, LendingKart.

LendingKart’s last equity round in February last year was led by Singapore’s Fullerton Financial Holdings. The other investors who invested in the company include Singapore-based Sistema Asia Fund, Bertelsmann India Investment, Mayfield India, Saama Capital and India Quotient.

“The last few quarters have witnessed a lot of volatility in the NBFC space, but companies which have robust underwriting platforms and a strong equity cushion have been able to turn this into an opportunity for growth. While liquidity has not been easily available for the broader market, LendingKart has grown sharply during this phase. The team at LendingKart has built a solid foundation and we are excited to partner with them at this juncture,” said Vinod Murali, Managing Partner, Alteria Capital.

Alteria Capital has a corpus of Rs 800 crore, with a greenshoe option of Rs 200 crore. It provides venture debt in the Rs 5 crore to Rs 100 crore range to venture-backed companies. Its current portfolio includes startups such as Faasos, Portea, Fingerlix, Toppr Technologies, Raw Pressery, Vogo Bikes, Dunzo, Vinculum, Mfine, ZestMoney, Stanza Living, Country Delight, among others.