Digital startup Lendingkart raises debt from State Bank of India


Lendingkart has raised Rs25 crore in debt from State Bank of India (SBI), a first for the country’s largest public sector lender vis-a-vis a digital lending start-up. In a statement, Lendingkart said the Rs25 crore loan is in the form of cash credit facility which essentially allows the company to draw the amount over separate tranches as and when it needs it.

Last year, Lendingkart got two private sector banks—Kotak Mahindra Bank Ltd and Yes Bank Ltd—on board as lenders.

Read more