LenDenClub raised $1 million in Pre-series A round funding from Artha Venture Fund, Transworld Group, Shuchi Kothari and others

Date:

Trending

Mumbai based, Peer-to-Peer (P2P) lending platform LenDenClub has raised $1 million in Pre-series A round funding from Artha Venture Fund, Transworld Group, and others.

- Advertisement -

“With the participation of existing investors, several family offices as UAE based Transworld Group, and Angel investors like Shuchi Kothari, Ramakant Sharma, Narendra Karnavat, Nandi Mehta,” The India based Artha Venture Fund led the new round funding.

The company, in its statement, said, “The new round funding will be used for expanding its senior management team, product development and also for expanding its geographical reach in 12 states.”

- Advertisement -

Speaking on the investment in LenDenClub, Anirudh A Damani, Fund Managing Partner, Artha Venture fund said, “P2P lending truly democratizes the lending ecosystem in India by removing the middlemen, i.e., the NBFC’s and banks that have successfully credit-starved the Indian consumer.”

“Their spectacular growth in lender registrations and money disbursed is even more heartening at a time wherein the entire lending ecosystem is petitioning the government for a bailout. There may not be a better poster boy for the success of P2P in India,” Anirudh Added.

Whereas, Vinod Keni, Fund’s Growth Partner said, “LenDenClub’s solution of directly connecting individual lenders to borrowers has been a resounding success. It has, no doubt, been a pleasure to work with LenDenClub in their journey of making P2P platforms equivalent to the banking ecosystem in India.”

Speaking more the Funding, Bhavin Patel, Co-Founder, and CEO, LenDenClub said, “The current funding round gives us the ability to double our reach and continue our quest in finding creditworthy borrowers that are not being serviced by the current financial institutions.”

“We also aim to double the number of lenders on the platform to reach Rs. 500 crores disbursal in the next 18 months,” he added.

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories

More Articles

Sri Lanka To Raise Electricity Tariff By 15 Percent

Sri Lanka will increase electricity tariffs by 15% starting June 12, the Public Utilities Commission of Sri Lanka (PUCSL) announced on Tuesday. The hike...

London-Ahmedabad Plane Crash: Air India to Operate Relief Flights

Air India is operating two relief flights for the next of kin of passengers and staff, departing from Delhi and Mumbai to Ahmedabad tonight at 11:00 PM. The return flights from Ahmedabad to Delhi and Mumbai are scheduled for the early hours of tomorrow,...

Air India passenger plane flying from Ahmedabad to London crashed

A London-bound Air India passenger plane carrying 242 people, including 2 pilots and 10...

Microsoft Announces Quarterly Dividend To Board Of Directors

Global technology giant Microsoft Corporation (NASDAQ: MSFT) announced a quarterly dividend of $0.83 per...

Nvidia Director Tench Coxe to Sell Shares Worth $142.7 Million

Nvidia Corporation board member Tench Coxe has filed a notice with the U.S. Securities...

From Diagnostics to AI: The New Age of Car Repair Technology

The automotive industry is undergoing a significant transformation, driven by technological advancements that are...

TikTok Star Khaby Lame Detained by ICE in Las Vegas

Social media sensation Khaby Lame, the world’s most-followed TikTok creator with over 162 million...

Narcotics Bureau Seized ₹9.2 Crore Properties in Big Drug Lab Raid

The Narcotics Control Bureau (NCB) has attached properties worth ₹9.2 crore belonging to a...

HCLTech to Power The Standard’s Digital Shift with AI-Led IT Solutions

HCLTech, a leading global technology company, announced an expansion of its partnership with Standard Insurance Company (The Standard), a leading provider of financial protection...

Kashmir’s First Tribal Museum Set Up by Young Tribal Girl in Bandipora

In a groundbreaking cultural initiative, Shahida Khanam, a young tribal girl from Aragam village...

DRDO Transfers Defence Technologies to 10 Indian Firms

The Defence Research and Development Organisation's (DRDO) Vehicle Research and Development Establishment (VRDE) in...

Trump Claims U.S. Trade Threat Helped Defuse India-Pakistan Ceasefire

On Monday, U.S. President Donald Trump said his administration played a key role in...

CCPA Issues Advisory to E-Commerce Platforms To Avoid Dark Patterns

The Central Consumer Protection Authority (CCPA) has issued advisory to all e-commerce platforms to...

President Trump: Elon Musk Has ‘Lost His Mind’

A dramatic rift between U.S. President Donald Trump and billionaire entrepreneur Elon Musk is sending political and economic shockwaves across the globe. Once considered allies,...

Why India’s Workforce Needs Business Leadership, Not Just Technical Skills

Every year, millions of students in India graduate with technical degrees, becoming engineers, coders, data analysts, and scientists. Yet, many of them find themselves underprepared for the challenges of the real world. Why? Because being technically sound is no longer enough. The volatile, uncertain,...

India’s Startup Regulations: Legal Pitfalls & Opportunities

Innovation, capital, and policy will fuel India's entrepreneurial growth. However, many founders find that...

MSys Technologies Rebrands as Aziro to Accelerate AI-Led Enterprise Solutions

MSys Technologies, a global leader in infrastructure engineering and digital transformation, has rebranded as...

Bangladesh Elections to Be Held in April 2026: Interim Chief

Chief Adviser of the Interim Government of Bangladesh, Dr. Muhammad Yunus, announced in a...

Indian PM Modi Meets With Central Asian Ministers

Foreign Ministers of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan held a joint call with...

SpaceX Launches SXM-10 satellite for SiriusXM

SpaceX’s Falcon 9 rocket successfully launched the SXM-10 satellite for SiriusXM early Saturday, adding...

Google CEO Sundar Pichai Sells Shares worth $5.48 Mn

Alphabet Inc. (NASDAQ. GOOGL) CEO Sundar Pichai sold 32,500 shares of the company’s Class...

Fintevex Overview: What Traders Need to Know in 2025

In 2025, the trading world is more competitive than ever. With hundreds of platforms...

Lexus CarPlay and Android Auto Integration

In the ever-evolving landscape of automotive connectivity, Lexus CarPlay and Android Auto integration have...

Kriscore Capital Launches ₹100 Cr Fund to Back Early-Stage Indian Tech Startups

Kriscore Capital, a newly launched venture firm focused on early-stage Indian technology startups, has...

Trump Claims U.S. Trade Threat Helped Defuse India-Pakistan Ceasefire

On Monday, U.S. President Donald Trump said his administration played a key role in...

Dr. S Jaishankar: FTA With the UK a Milestone in Bilateral Ties

British Foreign Secretary David Lammy met External Affairs Minister Dr. S. Jaishankar in New...

Iran Calls New U.S. Travel Ban Policy “Racist”

Tehran: Iran on Saturday issued a sharp condemnation of the new U.S. travel ban,...

UK Foreign Secretary David Lammy Meets PM Modi, Strengthens Bilateral Ties

UK Foreign Secretary David Lammy called on Indian Prime Minister Narendra Modi on Saturday,...

PM Narendra Modi to Attend G7 Summit in Canada Later This Month

Indian Prime Minister Narendra Modi will attend the G7 Summit later this month at...

CCPA Issues Advisory to E-Commerce Platforms To Avoid Dark Patterns

The Central Consumer Protection Authority (CCPA) has issued advisory to all e-commerce platforms to...

Lexus CarPlay and Android Auto Integration

In the ever-evolving landscape of automotive connectivity, Lexus CarPlay and Android Auto integration have...

Sifx trading platform: What Traders Looking to Profit Should Really Know

sifx.com is an online trading broker that provides access to multiple global markets through...

Kriscore Capital Launches ₹100 Cr Fund to Back Early-Stage Indian Tech Startups

Kriscore Capital, a newly launched venture firm focused on early-stage Indian technology startups, has...