LENDINGKART TECHNOLOGIES PRIVATE LIMITED

In their own words

Lendingkart Technologies Private Limited (LTPL) is a part of the fast evolving fin-tech industry in India that serves customers in the micro, small and medium enterprises (MSME) segment. It is primarily engaged in the business of development of software, providing services regarding implementation of computer software and hardware systems, management of data processing, financial data analysis, developing technology software/platform for the financial sector. LTPL is the owner of a platform named “Aadhya” which enables finance companies to digitally lend money using such platform. The platform “Aadhya” is a tool/application which is used by an authorized licensee to inter alia evaluate creditworthiness of the borrower and manage inventory. The Website is only a portal through which prospective borrowers can engage with a finance company. Product/ Services: Lendingkart has the objective of catering to credit deprived MSMEs who are not serviced by traditional institutions, and is continuously developing its credit underwriting models and technology capabilities with a vision to scale up and make finance available to remote geographies, to offer innovative credit products for the underserved MSME segment. To achieve the objective of addressing the credit gap, Lendingkart evaluates various factors apart from credit bureau scores, financial documentation as most of our customers are part of the informal economy and don’t have the proper documentation & information, which might impact their credit evaluation. We closely monitor the NPAs and develop model based on learnings, industry and policy changes, Lendingkart's Machine Learning Algorithm and Models works on close to 10,000 variables, and has proven to perform better for New to Credit MSMEs irrespective of the bureau score. One of the major constraints in extending financial services in remote locations is the lack of financial literacy with respect to information, business plan, documents to avail financial products that suit their business. One of the primary documents required for credit appraisal of the businesses/ businessmen are the income tax filing returns and even today, with less than 10% people in India filing income tax returns this becomes a stumbling block. Lendingkart been able to solve the problem by developing alternative underwriting mechanisms based on alternate customer data e.g. bank data, investment data, purchase patterns on e-commerce websites, social media as well as utility data available in absence of credit records and financial statements. Coupling all the available digital data with Machine Learning makes it easier for lenders to assess risk & approve loans at a much larger scale and lower costs. As a result, credit decisioning time is on a reducing trend ensuring access to financial service for a customer without any delay in processing and is proving more effective than the traditional methods. This has also helped these MSMEs become part of the formal economy by utilizing these offerings. They have more avenues open to them on account of credit history and the advantage of placing themselves as similar business placement as compared to city & suburban from any location, has led to increased demand and supply. This has led to ~20% of the working age population being employed in the country by this segment and is going to rise up in coming years with increased focus on account of Make in India, Atmanirbhar campaigns by the government. Lendingkart is assisting these small businesses by creating awareness of their customized product in the borrowers native vernacular language and reaching a larger customer base from ‘Bharat’. The process of providing financial information by improving awareness and adoption of netbanking and required documentation has also been simplified as it is just uploading relevant documents through their mobile devices from any place. Thanking you Regards, Lendingkart Technologies Private Limited Lendingkart Website

Written by the company on its public Startup India profile. Not verified by us.