Luthra And Luthra Advises Upwards Fintech On Its Acquisition By Lendingkart For INR 100 Crores
LIVELAW NEWS NETWORK
1 March 2023 3:22 PM GMT
Fintech company Lendingkart Technologies Private Limited (Lendingkart) has acquired digital lending platform Upwards Fintech Private Limited for ₹100 crores, and Luthra and Luthra Law Offices India advised Upwards Fintech Private Limited and its subsidiary Upwards Capital Private Limited (Upwards) on its acquisition.
Upwards offers personal loans to salaried professionals through its proprietary technology platform, which uses complex algorithms to analyze over 500 data points from a wide range of sources to underwrite and disburse loans. It caters to personal financing needs in an easy way by adding technology to the loan buying process, thereby providing instant access to funds in a simple and transparent way.
Lendingkart facilitates working capital loans and business loans to SMEs across India, using a quick online process with minimum documents and no collateral. It has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s credit worthiness and provides other related services.
The transaction team was led by Partner, Sarika Raichur and ably assisted by Senior Associate Sidhartha Jatar and Associates Shaurya Jakher and Ruthvik Tumuluri.
