13 Feb '18, 5am

India fintech seeking to raise at least US$87m to grow tech capabilities

AN Indian fintech company is seeking to raise over US$87 million of equity funding to expand its technological and analytics capabilities. Lendingkart Technologies will be doing so through series C capital-raising, with the initiative led by Singapore's Fullerton Financial Holdings, along with participation from existing investors. On Tuesday, Lendingkart said that the group also aims to expand its credit product offerings to deepen its reach to small enterprises and "underserved micro enterprises". With this new round of funding, Lendingkart group's cumulative equity and debt raising will exceed US$173 million. sentifi.com Market voices on: Gan Chee Yen, CEO of Fullerton Financial Holdings, said: "We believe that the deployment of technology to develop scalable and accessible financial services platforms, incorporating Big Data analytics and machine learning, will be crit...

Full article: http://www.businesstimes.com.sg/banking-finance/india-fin...

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