The Lendingkart Group has acqui-hired KountMoney, an online lending marketplace for personal loans. With this, Lendingkart will be boosting its data analytics and technology capabilities. KountMoney was founded in October 2015 by Deepak Modak, Gaurav Somani, Abhishek Periwal and Abhi Ranjan. The co-founders will be joining Lendingkart, while the financial details of the deal were not disclosed. It offers consumers personal loans, gold loans, home loans, education loans and loans against property. It counts HDFC Bank, Axis Bank, ICICI Bank, Kotak Bank, Bajaj Finserve, Fullerton India, Edelweiss among others as its partners. Meanwhile, Lendingkart's focus has primarily been primarily been on lending to small businesses and entrepreneurs. It operates as a non-banking finance company (NBFC) and provides loans ranging from Rs 1 lakh to Rs 40 lakh on its platform and claims that they are sanctioned in a day and disbursed in two days. It adds that it requires minimum documentation, especially for ecommerce vendors, and businesses and sellers are not required to provide collateral or net worth details. Lendingkart has deals with CCAvenue, Paytm, Craftsvilla and Flipkart to provide merchants of these platforms financial assistance via loans. It seems that Lendingkart is diversifying its portfolio. With this, it will also be counting BankBazaar as competition which operates as a financial marketplace. BankBazaar compares rates between different financial institutions and to apply for the loan online Funding Kountmoney had raised an undisclosed round of funding back in November 2015 from Ashish Goenka, chairman and managing director of Suashish Diamonds Ltd and other angel investors. Lendingkart…
