Temasek Ups Stake in Lendingkart with Rs 252 Crore Investment

Lendingkart announced a significant investment from Singapore-based Temasek, who will increase its stake in the fintech company by investing Rs 252 crore. The funding will empower Lendingkart to enhance technology and expand its reach in underserved markets, emphasizing its commitment to transforming MSME lending in India.

Lendingkart, a prominent fintech company, received a commitment of up to Rs 252 crore from Singapore-based Temasek, marking an increase in the latter's stake to a controlling position. This investment, subject to regulatory approvals, highlights Temasek's confidence in the future of Lendingkart.

Previously, Temasek's unit Fullerton Financial Holdings (FFH) held a 38.16% stake, but details of their current investment were not disclosed. Despite the funding announcement, the company did not address any valuation declines in the latest funding round.

Harshvardhan Lunia, the founder and managing director of Lendingkart, stated this investment as a vote of confidence in the company's mission to revolutionize MSME lending in India. FFH's Hong Ping Yeo echoed the sentiment, underscoring the value scalable and well-governed franchises bring to small businesses.

(With inputs from agencies.)