India, May 7 -- Fintech startup Lendingkart has raised $10 Mn (INR 83.5 Cr) via external commercial borrowing from a fund managed by Swiss impact investor BlueOrchard.

Lendingkart will deploy the freshly raised funding for onward lending activities to MSMEs.

Lendingkart said in a statement that the non-convertible debentures (NCDs) were listed on the India International Exchange (IFSC) in GIFT City. It also claimed itself to be among the first few issuers to leverage unified depository to issue ISIN for a foreign currency bond.

"At Lendingkart, we see this investment as a testament to our unwavering dedication to supporting Indian MSMEs. It is a validation of our mission to democratise access to finance and champion entrepreneurship," ...