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Funding digest: Lendingkart, Foyr, boodmo, GarageOnRoad

While we were away... Lendingkart raises debt of Rs 25cr from SBI Lendingkart Finance Limited has received a debt funding of Rs25 crore from State Bank of India (SBI) to further grow its loan book. In a statement, Lendingkart said the loan is in the form of cash credit facility. 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. Lendingkart is present in about 950 cities across the country, and claims that it has disbursed over 20,000 loans to 12,000 SMEs across 23 sectors. *** Foyr raises Series A funding of $3.8M Hyderabad-based interior design and home decor platform Foyr has secured series A funding of $3.8 million led by property consultancy firm Jones Lang LaSalle (JLL). A clutch of individual and non-institutional investors also participated in the round. The company will use the fresh capital to strengthen its technology, and launch new products by next year. The company also added in its statement that it is looking to expand its presence in global markets as well. Earlier, Foyr had raised seed funding from Astarc Ventures and Brick Eagle in August 2015. Launched in March 2015 by Shailesh Goswami, Foyr uses technology, virtual reality and real-time market intelligence…

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