Fintech Growth: Lendingkart’s Series F Round to Raise Rs 850 Crore
Lendingkart, a burgeoning fintech enterprise under Temasek’s ownership, is on track to raise Rs 850 crore (approximately $100 million) in its Series F funding round. This significant investment will mark the first major capital injection since the Singapore-based entity acquired a controlling stake in March of this year.
According to regulatory documents obtained from the Registrar of Companies, Lendingkart’s board has greenlit the issuance of 9,04,160 Series F preference shares, priced at Rs 9,401 each, to garner the planned capital. Fullerton Financial will lead this funding round with a contribution of Rs 511 crore. Other investors like Bertelsmann Nederland, Mayfield India, and Saama Capital will provide Rs 71 crore, Rs 60 crore, and Rs 47 crore, respectively.
The round will also witness participation from players such as Grand Anicut, Sistema Asia Fund, India Quotient, Darrin Capital, and a group of angel investors including co-founders Raichand Lunia and Harshvardhan Lunia, alongside Mukul Sachan.
As per the filing, the funds raised will primarily be allocated towards growth initiatives and expansion activities of the company and its subsidiaries, including Lendingkart Finance, which operates as its fully owned unit, as well as for general corporate needs.
Following this issuance, Fullerton Financial is expected to hold 58.35% of the overall shareholding in Lendingkart, while Bertelsmann Nederland, Mayfield India, and Saama Capital will have stakes of 8.20%, 7.25%, and 5.40%, respectively.
In response to inquiries from Startup Superb, a representative from Lendingkart stated that Fullerton Financial Private Limited obtained a nearly 56% stake in Lendingkart on March 27, 2025. Lendingkart aims to secure up to INR 850 crores in its current capital raise through a preferential offer spearheaded by Fullerton Financial Private Limited for its growth and expansion activities.
Lendingkart operates as a non-banking financial company (NBFC), providing essential working capital and business loans to small and medium enterprises (SMEs) across India, with typical loan sizes ranging between Rs 5–6 lakh. The firm asserts that it has disbursed over Rs 18,700 crore to more than 300,000 businesses thus far.
Previously, before the acquisition, Lendingkart raised Rs 1,050 crore ($126 million) in equity funding from investors, including Fullerton, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, and India Quotient.
For the financial year 2024, the company reported a remarkable 36% increase in revenue, reaching Rs 1,090 crore, while its profits experienced a slight decline of 5.9% to Rs 175 crore. The firm has not yet disclosed its financial results for 2025.
