It will help channel partners and DSAs to boost their MSME reach.
Lendingkart xlr8 provides the capability to its partners for easy and seamless originating MSMEs working capital requests
Lendingkart xlr8 equips its digital partners to initiate lending journey on their platform by offering an end-to-end API suite
Lendingkart xlr8 provides a one stop SaaS solution for creation, fulfillment, tracking and reporting
New Delhi, NFAPost: Lendingkart Technologies Private Limited, India’s leading fintech company, today announced the launch of its omni-channel partner platform “Lendingkart xlr8”.
The digital lending fintech is opening its core technology to partners so they can tap into Lendingkart’s MSME reach. MSMEs reach out for business capital requirements either by browsing online or prefer the in-person agents available in their locations in lieu of existing relationships.
Lendingkart xlr8’s API suite enables these online partners to have the loan journey status available on their own platform and the SaaS platform empowers the offline partners and agents to have a one stop solution to self-serve: create, fulfil and track all their applications without checking or depending on relationship managers. This platform opens up access to Lendingkart proprietary zero touch technology that helps in faster processing of applications with minimal requirements of documents and no reliance on offline media to communicate.
Lendingkart has been partnering with the agents, marketplaces and various platforms to spread awareness among the MSME segment about the financial products available, customised to suit their business model and needs, including collateral free, flexible and cost sensitive options.
During the lockdown period, Lendingkart prioritized reaching out to these partners and identifying their concerns and evaluated technological capabilities that can be leveraged to address them. The platform solves key requirements such as real time visibility of applications journey, phasing out offline communication with relationship managers for any pendency, support or queries.
As on date, the xlr8 provides API and SaaS platform to initiate applications with details, documents and all necessary kyc details with any flags being auto-triggered for notice of the partners so they can act promptly to resolve the same.
Lendingkart Technologies Co-Founder & Managing Director Harshvardhan Lunia said Lendingkart’s partnership with our partners for creating awareness and developing the omnichannel reach out for collateral-free finance option available to MSMEs via digital medium has gone a long way for us.
“These efforts and initiatives for more than 5 years are having high impact in the new normal and are set to be a pioneering breakthrough in addressing the credit gap in this high growth potential sector. I am thankful and look forward to a long-term association with our partners in their endeavour for achieving our shared vision,” said Harshvardhan Lunia.
Paisabazaar.com CEO & Co-founder Naveen Kukerja said Paisabazaar.com is committed to meeting the credit needs of consumers, of which a key segment is the traditionally underserved MSME community.
“Our partnership with Lendingkart has always aimed to make lending for the self-employed more convenient and hassle-free, through digital innovations. This now has been further enhanced with the Lendingkart xlr8 api suite, which would lead to a deeper integration of our partnership and help make the loan journey seamless and transparent by allowing real-time visibility to partners,” said Naveen Kukerja.
Lendingkart agent partners stated that Ruloans has been associated with Lendingkart for 4+ years and the credit facility reaches to all locations.
“It is not limited to branch presence. for the speedy and real-time visibility with their business loan product and additionally. Recently, Lendingkart has launched the xlr8 module being used by our team, for seamless Loan Application tracking and the real-time decisioning & disbursement speed is best in industry and we are happy to be associated with Lendingkart in this journey and look forward to achieving more milestones,” said Lendingkart agent partners.
Generation Next Services added the support for adopting a digital loan journey through Lendingkart xlr8 and maintaining a healthy portfolio has helped us getting higher efficiencies for our workforce and boosted up our confidence level as well.
Lendingkart provides short term collateral free working capital loans to MSMEs with minimal paperwork within 72 hours. These include businesses that have little or no credit history available. The loan ticket sizes range from as low as Rs 50,000 up to 2 crores for a period of 1 to 36 months.
The company analyses 5000+ data points from various sources and leverages robust in-house technology tools based on big data analytics and machine learning algorithms to evaluate creditworthiness. Lendingkart also offers several customized financial products to address today’s diverse business needs in competitive environments.
Founded in 2014 by Harshvardhan Lunia, Lendingkart has offices in Ahmedabad, Bangalore, Mumbai, Delhi NCR and has service reach across India.
The group is financed by reputed international investors like Fullerton Financial Holding (FFH) (100% subsidiary of Singapore Sovereign Fund Temasek Holdings), Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, India Quotient and others and has raised around INR 1000 crore of equity till date.
Lendingkart Technologies Private Limited is a fin-tech startup in the working capital space. The Company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s credit worthiness and provides other related services.
Lendingkart Finance Limited is a non-deposit taking NBFC, primarily lending to SMEs in India. The Company aims to transform small business lending by making it convenient for SMEs to access credit easily. Since its inception, Lendingkart Finance has evaluated nearly half a million applications, disbursing 1,00,000+ loans to more than 91,000 MSMEs in 1300+ cities across all 29 states and union territories of the nation, making it the NBFC with the largest geographical footprint in the country