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Lendingkart partners with TransUnion CIBIL to offer loans on CIBIL’s marketplace

Leadingkart has partnered with credit bureau TransUnion CIBIL, where self-employed professionals and small businesses will be able to access loans from Lendingkart Finance on the CIBIL MarketPlace platform.

CIBIL MarketPlace is an online platform that enables users to choose from multiple offers across products and participating lenders. The marketplace offers are customized based on a user’s CIBIL score, income and other parameters. Currently, users can avail offers for credit card, personal loan, home loan and loan against property.

Lendingkart operates a non-banking finance company (NBFC) and as such it uses TransUnion CIBIL’s data for new borrowers as well as provide default data to the bureau.

Lendingkart provides loans ranging from Rs 1 lakh to Rs 40 lakh on its platform and claims to sanction them in a day and disburse them within three days. The loans attract an interest rate of 16-24%. It adds that it requires minimum documentation, especially for e-commerce vendors, and businesses and sellers are not required to provide collateral or net worth details.

In recent times, credit bureaus have been tying up with different fintech companies:

  • Earlier this month, Wishfin (which also runs Deal4loans) partnered with TransUnion CIBIL to provide its customers with their free CIBIL Score & Credit Report on Wishfin.com. This would help customers to know their credit history and status. It also provides borrower an opportunity to rectify errors in their credit report.
  • Last week, BankBazaar raised $30 million is a series D round of funding from global credit bureau Experian.  BankBazaar had tied up with Experian earlier this year where could customers can get a free credit monitoring services from the credit agency.


Last month, Lendingkart raised $10.51 million (~Rs 70 Crore) in form equity funding from investors including Singapore-based Sistema Asia Fund along with participation from current investors—Bertelsmann India Investment, Mayfield India, Saama Capital, India Quotient and Darrin Capital Management.

With this, the company claims to have raised a total funding of Rs 534 crore (~$83.28 million) of which equity funding includes Rs 243 crore and debt funding of Rs 291 crore. In August, it raised $10 million in debt funding to expand its operations to 700 cities and restock its loan book. In June, the company raised debt funding worth Rs 50 crore from Yes Bank and raised $12 million debt funding during its $32 million Series B round.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ