Lendingkart Ties-up with SmartShift, a Mahindra company, to Facilitate Online Financing For Its SME Customers

The partnership will offer small business owners access to easy loans through online procedure

Lendingkart Technologies (Lendingkart Group), a leading online platform that facilitates small and medium enterprises (SMEs) in obtaining working capital loans, today announced a strategic partnership with Mahindra’s SmartShift, a digitally enabled aggregator for cargo owners and transporters. Through this collaboration, Lendingkart Technologies will help in availing easy business loans for SMEs registered on the SmartShift platform.

A part of the US $16.9 billion Mahindra Group, SmartShift is a mobile app for cargo owners and transporters, enabling users to find cargo transporters based on the shipment size, weight, and other requirements. Cargo owners (both businesses and individuals) can access the SmartShift service through either the mobile app (available on Android), the website or the dedicated call centre. By offering customers access to business loans through Lendingkart, SmartShift aims to partner with their consumers in growing their aspirations, and build a base of loyal customers who will transform into brand advocates.

Speaking of the alliance, Harshvardhan Lunia, Co-Founder & CEO, Lendingkart Technologies said, “As a Group, we are constantly emphasizing on helping small scale entrepreneurs to focus on building their businesses instead of worrying about working capital or cash flows. SmartShift deals with a large number of small-scale business owners who face hurdles in getting working capital for their business expansion. Through this relationship, we have attempted to make working capital fund easily accessible to SmartShift SMEs.”

Ms. Kausalya Nandakumar, CEO of SmartShift said, “At Smartshift, our customers and their aspirations are at the center of everything we do. Our association with Lendingkart Group is in alignment with our business promise of ‘Business Ko Lift Karo’. Through this alliance, we want to enable our customers to invest working capital into their businesses easily and strengthen our relationship with them.”

Most of the credit risk analysis, at Lendingkart’s affiliated NBFCs, is done digitally to ensure loan disbursement in less than 72 hours, even in semi-urban and Tier-2 cities. This association with Lendingkart will help SmartShift to offer additional value to its customers and partner with them in growing their businesses.