Sistema Asia Fund company LendingKart makes H2's and KPMG's Global Top 50 of Fintech 100 Firms list



LendingKart, an Indian fintech company that focuses on providing SMEs facilitated access to working capital, has been included in the Global Top 50 Established Fintech Firms list within the Fintech 100 report for the third consecutive year and remains the only Indian Fintech lender on the list. The report, compiled by H2 Ventures and KPMG, highlights companies that are taking advantage of technology and driving disruption within the financial services industry.

LendingKart, founded by Harshvardhan Lunia and Mukul Sachan, has developed a unique technological platform capable of approving and granting loans within a 4-hour span. The company has already issued loans in over 800 cities without the need to operate a single retail branch. LendingKart's growth potential remains very high given the scale of India's untapped market with its estimated credit scarcity of roughly USD60bn per annum. 

Sistema Asia Fund, led by Managing Partner Andrey Terebenin, specializes in investments in mid-stage high-tech companies in India and Southeast Asia and has been a close partner of LendingKart since it had participated in the company's Series C-1 and Series C-2 funding rounds in August 2017 and September 2018 respectively. 

Activities of SAF are overseen by Vsevolod Rozanov, Chairman of the Board at Sistema Asia Fund and Managing Partner at Sistema. The Fund focuses primarily on consumer tech (e-commerce, healthcare, transport, media, finance and education) and enterprise tech (IoT, VR/AR, platform solutions, big data, AI and machine learning). Several key investment projects include Seclore (Enterprise Digital Rights Management system developer), Qwikcilver (supplier of corporate cloud software in the segment of gift cards and loyalty programmes), Mobikon (marketing platform for restaurants), (India's biggest online pharmacy) and HealthifyMe (India's biggest digital fitness platform:

In March 2018, Sistema Business Scalerator, a platform aimed at scaling up businesses, launched by Sistema Asia Fund and MTS India team, collaborated with LendingKart Finance, LendingKart's NBFC arm. Unlike traditional business accelerators, Sistema Business Scalerator does not educate, but rather sets up sales in retail and B2B channels, assists with marketing, brand management and client service. 

The goal of the partnership is to help LendingKart Technologies expand its customer base and assist in sourcing business and scaling operating in India's states (Tamil Nadu, Kerala, Karnataka, Telangana, Andhra Pradesh and Puducherry). SBS is currently LendingKart's largest client acquisition partner, responsible for 12% of monthly lending volume.

LendingKart is an example of Sistema’ successful investment in innovative companies through a platform of funds focused on venture and PE investments. Sistema's funds and investment companies offer investors access to a global portfolio of high-tech and digital assets, as well as assets in real estate and industrial manufacturing. These funds (Sistema Asia Fund, Sistema VC, Sistema Rusnano Sicar, Sistema Finance) already constitute an increasingly important part of Sistema’s long-term growth and investment strategy.

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