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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.
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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 to provide visualization solutions to homeowners, architects, interior designers, builders and the real estate.

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Online marketplace for auto component Boodmo gets Rs 5cr

Online marketplace for auto component boodmo has raised Rs 5 crore from its existing investors, reports PTI. Founded in 2015 by Oleksandr Danylenko, Yevgen Sokolnikov, two entrepreneurs from Ukraine, boodmo deliver products to Indian customers from Europe, USA, Japan, China, UAE and South Korea. According to this report, boodmo has secured Rs 15 crores in FDI till date.

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GarageOnRoad secures seed funding

Auto services company GarageOnRoad has raised seed funding of undisclosed amount from Gaurav Gupta, SVP at Reinsurance Multinational Swiss Re, reports VCCircle. The startup started its operations in January 2017, and it claims on its website that it currently provided 1078 auto services in the country. The publication reports that the Noida-based startup will use the capital to strengthen its technology, add services like on-demand car services, and expand to other cities.

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