Mahindra Finance, Lendingkart Forge Strategic Co-lending Partnership To Empower SMEs

Mobility Outlook Bureau
26 Feb 2024
12:25 PM
1 Min Read

The strategic partnership aims not only to address the current needs of SMEs but also to foster sustained growth and resilience in the sector.


Mahindra Finance

In a significant move toward financial inclusion and empowerment of the Small & Medium Enterprise (SME) sector, Mahindra & Mahindra Financial Services Limited (MMFSL), a prominent NBFC under the Mahindra Group, has joined forces with Lendingkart, a leading fintech company in India. The collaboration, announced today, introduces a co-lending partnership, aiming to provide crucial business loans to SMEs while contributing to Mahindra Finance's product diversification strategy.

Under this collaboration, Mahindra Finance is stepping into the co-lending space exclusively for the SME sector, following an 80:20 structure. Lendingkart will utilise its cutting-edge tech platform, Lendingkart 2gthr, to streamline the entire customer journey, covering origination, underwriting, disbursals, and collections.

Raul Rebello, MD&CEO - Designate, Mahindra Finance, said, 'The SME sector is one of the fastest-growing sectors, with a need for timely access to credit. Through this co-lending initiative, our collective objective is to transform credit decisioning, boost accessibility, and create financial agility in the SME space. Together with Lendingkart, we aim to provide comprehensive and competitive financial solutions to the SME sector in our journey to be a responsible financial solution partner to emerging India.”

Harshvardhan Lunia, Founder & CEO, Lendingkart Group, highlighted the significance of MSMEs in the Indian economy, stating, 'This co-lending partnership with Mahindra Finance is a testament to our focus on fostering collaboration in the Indian financial ecosystem to better serve the underserved MSMEs and serve the national mission of financial inclusion. Together with Mahindra Finance, we will leverage our knowledge and expertise to simplify finance for an emerging India.”

The collaboration is poised to offer SME businesses access to Mahindra Finance's hyperlocal schemes and leverage Lendingkart’s expertise as an MSME finance specialist. This synergy is expected to positively impact SMEs seeking timely financial support. Recognising the dynamic nature of the financial landscape, the collaboration is envisioned as a long-term commitment, with the initial agreement spanning three years.

Also Read:

Mahindra Finance Set For New Challenges

Share This Page