Lendingkart, a digital lending platform for small and medium businesses (SMEs), is set to be acquired by Fullerton Financial Holdings (FFH), a subsidiary of Singapore's Temasek.
Fullerton will inject Rs 252 crore ($30 million) into the company, aiming to expand Lendingkart’s reach in underserved markets. Lendingkart, previously valued at $690 million, is now expected to be worth $100 million after the deal. Fullerton already controls 38% of Lendingkart, which has disbursed over Rs 18,700 crore in loans to 300,000 businesses across 4,100 cities.