Lendingkart Supports Partners and Agents with Instant Invoicing, Payouts and Settlements Using Its Enhanced xlr8 Platform During the Pandemic

The platform is accessible to Lendingkart proprietary Zero Touch Technology that helps in making the process quick with minimal requirements of documents.Committed to strengthening relationship with its partners now more than ever, Lendingkart has launched an enhanced version of xlr8 which enables instant invoicing and payment without any manual intervention or dependency on any team.


PTI | Bangalore | Updated: 24-09-2021 18:26 IST | Created: 24-09-2021 18:26 IST
Lendingkart Supports Partners and Agents with Instant Invoicing, Payouts and Settlements Using Its Enhanced xlr8 Platform During the Pandemic

Bangalore, Karnataka, India - Business Wire India • Extends it’s xlr8 platform and Zero Touch technology to its business partners and vendors, enabling automated invoice generation, real time approval and instant payout for their services. • xlr8 platform provides one point access to view, track, analyses and download of service status, any pendencies/ updates and payout statements Lendingkart Technologies Private Limited, India’s leading fintech company, announced the extension of its Zero Touch technology to DSAs and Partners on xlr8 platform. Launched in December 2020, the platform enables the online partners to track their loan journey status and SaaS platform empowering offline partners with a one stop solution to self-serve, create and fulfill their applications without any manager. The platform is accessible to Lendingkart proprietary Zero Touch Technology that helps in making the process quick with minimal requirements of documents.

Committed to strengthening relationship with its partners now more than ever, Lendingkart has launched an enhanced version of xlr8 which enables instant invoicing and payment without any manual intervention or dependency on any team. This enhancement was planned after extensive research undertaken by the team to identify the major pain points and areas where Lendingkart can really propel the growth of its partners. Setting new benchmark for the industry which has a payment cycle of 45 to 60 days, Lendingkart aims to support partners with real time payouts. These partners can focus on their competency to reach out to MSMEs through their relationship and not worry about invoice submissions, reconciliation and waiting for the payments. Partners can view, track, analyse and download their payouts and related information from the platform.

Commenting on the extension of its Zero touch technology platform, Manish Bhatia, President- Technology, Analytics & New Capabilities, Lendingkart said, “With an aim to empower and support MSMEs, Lendingkart has been committed to developing technology solutions which support and grow their business with minimum resources. During these unprecedented times, there is a large segment of MSMEs who require financial support and assistance. Through our channel partner and enhanced platform, the Zero Touch platform will assist all the SMEs and MSMEs to make the loan process seamless and secured financial aid on time to recover and bounce back stronger.” S.D. Associates, a leading offline partner has been associated with Lendingkart for more than four years. Speaking on their partnership, Manoj Vijay, S.D. Associates said, “I am delighted to partner with Lendingkart for this unique solution enabling instant payout post working capital loan disbursement. With the Xlr8 platform, we can generate, verify and approve the details real time, eliminating delays owing to manual intervention around invoicing and payout. Amidst the uncertain business environment, this is a critical solution, we look forward to other NBFCs and banks adopting a similar model of instant payout soon.” Speaking on their partnership, Satya Gumandi, “Working closely with origination team, this solution was much needed for instant payout of services. I used to borrow funds to make payments or I used to limit my operations to selected connectors and locations. With Lendingkart’s enhanced platform, payouts are now possible on the same day payout enabling faster geographical expansion and increased origination. I am grateful to Lendingkart to pioneer this change for offline partners which is sure to have far-reaching benefits.” Lendingkart provides short term collateral free working capital loans to MSMEs with minimal paperwork within 72 hours. These include businesses that have little or no credit history available. The loan ticket sizes range from as low as Rs 50,000 up to 2 crores for a period of 1 to 36 months. The company analyses 5000+ data points from various sources and leverages robust in-house technology tools based on big data analytics and machine learning algorithms to evaluate creditworthiness. Lendingkart also offers several customized financial products to address today’s diverse business needs in competitive environments.

About Lendingkart Group Founded in 2014 by Harshvardhan Lunia, Lendingkart has offices in Ahmedabad, Bangalore, Mumbai, Delhi NCR and has service reach across India. The group is financed by reputed international investors like Fullerton Financial Holding (FFH) (100% subsidiary of Singapore Sovereign Fund Temasek Holdings), Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, India Quotient and others and has raised around INR 1000 crore of equity till date.

Lendingkart Technologies Private Limited is a fin-tech startup in the working capital space. The Company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s credit worthiness and provides other related services.

Lendingkart Finance Limited, is a non-deposit taking NBFC, primarily lending to SMEs in India. The Company aims to transform small business lending by making it convenient for SMEs to access credit easily. Since its inception, Lendingkart Finance has evaluated nearly half a million applications, disbursing 1,00,000+ loans to more than 91,000 MSMEs in 1300+ cities across all 29 states and union territories of the nation, making it the NBFC with the largest geographical footprint in the country.

Webpage address: https://www.lendingkart.com/ PWR PWR

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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