Lendingkart & Tata Capital to co-lend unsecured loans to MSMEs

By Gloria Mathias

Lendingkart, India’s retail lending marketplace, has announced a co-lending partnership with Tata Capital, the financial services company of the Tata Group, to provide business loans to micro, small, and medium enterprises (MSMEs).

Lendingkart Finance, through its SaaS platform ‘2gthr,’ will oversee the complete customer journey, including application initiation, efficient underwriting, disbursal processes, and seamless collections management. This strategic partnership aims to enhance nationwide credit access for MSMEs through the ‘2gthr’ platform.

Commenting on the partnership, Harshvardhan Lunia, Founder and CEO at Lendingkart, said, “Our goal is to enhance credit penetration and make financing accessible and easier for MSMEs. This partnership will help us address the critical financing requirements of underserved businesses and drive greater operational efficiencies. We look forward to collaborating with Tata Capital to leverage its wide network with our platform and technology.”

Vivek Chopra, Chief Operating Officer of Retail Finance at Tata Capital Limited, shared, “Tata Capital’s partnership with Lendingkart reflects our dedication to collaborative growth. This strategic initiative will empower MSMEs to capitalize on emerging opportunities and drive comprehensive business expansion.”

Tata Capital Limited, a holistic financial services provider, has a pan-India network and caters to the diverse needs of retail, housing, SME and corporate customers. Its range of offerings includes consumer finance, housing finance, commercial finance, cleantech finance, microfinance, debt syndication, Private Equity and credit cards.

Lendingkart is an Ahmedabad-based FinTech that leverages technology to simplify finance for small businesses. It is co-lending with banks and NBFCs in India to provide more small businesses with access to finance.

Lendingkart Group is on a mission to make credit available to MSMEs pan-India using technology and data-first approaches. The company has developed technology tools based on big data analysis and machine learning algorithms that facilitate lenders evaluating borrowers’ creditworthiness and providing finance-related services. It has also built a proprietary platform to solve the basic building blocks of MSME financing, such as distribution, origination, underwriting, engagement, and collections. Lendingkart has democratized access to this platform by providing open access to APIs across the funnel.