Lendingkart raises Rs 50 crore in debt from Incred, Yubi

Fintech firm Lendingkart has raised Rs 50 crore through non-convertible debentures and market-linked debentures from Incred and Yubi.

As part of this funding, Rs 20 crore is raised from InCred Capital Financial Services Private Limited and Rs 30 crore from Yubi (formerly CredAvenue).

Yubi will retail non-convertible debentures (NCDs) of the company to enable more investor to participate in the transaction.

''The newly gained funds will help us in reaching out to more entrepreneurs and ensure financial aid for their businesses,'' Lendingkart CEO and founder Harshvardhan Lunia said in the statement.