Personal Loan Platform Upwards Gets Acquired by LendingKart for Rupees 120 Crore

In a recent development in the financial technology industry, Lendingkart has announced its acquisition of Upwards, a personal loan platform, for ₹ 120 crore.
The acquisition has been made as part of Lendingkart's expansion strategy to increase its reach in the unsecured personal loan segment.
Founded in 2014, Lendingkart is a leading fintech company in India that provides financial services to small businesses. The company uses technology-driven solutions to assess the creditworthiness of potential borrowers, enabling it to offer quick and easy loans to small businesses.
Lendingkart has been making efforts to diversify its loan portfolio by adding consumer loans to its offerings, and the acquisition of Upwards is a step in that direction.

Lendingkart Acquires Upwards

Upwards, on the other hand, is a leading digital platform for personal loans in India. The platform provides personal loans to individuals, who are in need of funds for various reasons, including medical emergencies, home renovations, or personal expenses.
With a focus on responsible lending and customer experience, Upwards has built a strong reputation in the market and has been growing rapidly. The acquisition of Upwards will allow Lendingkart to expand its product offerings and reach a larger customer base.
Lendingkart will integrate Upwards’ technology and customer base into its existing operations, which will help the company to provide a comprehensive suite of financial services to its customers. The acquisition will also bring in new talent to Lendingkart, which will help the company to further strengthen its operations and improve its offerings.

Lendingkart's co-founder and CEO, Harshvard Kumar, has expressed his excitement about the acquisition, stating that the company is looking forward to leveraging the expertise and experience of the Upwards team. He also mentioned that the acquisition will help Lendingkart to offer a wider range of financial services to its customers and further strengthen its position in the market.

The acquisition of Upwards by Lendingkart marks a significant development in the financial technology industry in India. It showcases the growing importance of digital financial services and the willingness of companies to invest in technology-driven solutions to meet the evolving needs of customers.
With the integration of Upwards into its operations, Lendingkart is poised to play a major role in shaping the future of financial services in India.

To conclude this news coverage, let us sum it up for you- the acquisition of Upwards by Lendingkart is a strategic move that will help the company to expand its reach in the personal loan segment and offer comprehensive financial services to its customers. The acquisition is a testament to the growth and potential of the Indian financial technology industry, and it will be interesting to see how the market evolves in the coming years.

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