Fintech startup Lendingkart partners with Northern Arc Capital

Fintech startup, LendingKart Technologies Private Limited has announced a full-stack co-lending partnership with Non-Banking Finance Company, Northern Arc Capital to disburse over Rs 100 crore as working capital to Micro, Small and Medium Enterprises (MSMEs).

The loans disbursed under the new partnership will enable MSMEs to borrow digitally without any manual intervention in data and information flow, bureau check and document verification and validation to credit decisioning and customer funding. The target borrowers are ones, who usually don’t have access to credit or are capital deficient.

“We are excited to partner with Northern Arc Capital to provide a seamless and tech empowered loan disbursement process for our customers. Northern Arc Capital has proven that they have the best expertise in the co-lending business, and this will not only help reach us reach a wider set of MSMEs across the length and breadth of the country but also accelerate our goal of superior customer experience,” Harshvardhan Lunia, MD, Lendingkart said.

“The partnership with Lendingkart has developed over a long period and is now fully integrated with our digital platform Nimbus, allowing us to seamlessly deliver credit to a larger customer base, Together, we cover the entire gamut of credit opportunities through a suite of innovative products,” Kshama Fernandes, MD & CEO, Northern Arc Capital said.