LendingKart acquires online lending platform KountMoney

KountMoney, an online lending marketplace for personal loans has been acquired Lendingkart Group, which will help the company to boost its technology and data analytics capabilities, according to The Economic Times.

Founded by Deepak Modak, Gaurav Somani, Abhishek Periwal and Abhi Ranjan, the entire team of KountMoney will now come on board at Lendingkart Group.

Harshvardhan Lunia, Co-Founder, and CEO, Lendingkart Technologies said, “KountMoney has been performing exceptionally well in the field of online personal loan disbursals. Its emphasis on using tech to make loan disbursals simpler and quicker makes it a perfect synergistic match for Lendingkart Group.

He further added, "By acquiring KountMoney, we will be able to further strengthen our tech backbone and leverage the data analytics expertise of the online lending platform to enhance our service delivery.”

With an aim to serve borrowers looking for credit in a smooth and hassle-free way, KountMoney enables quick and easy loan disbursal and includes personal loans, gold loans, home loans, education loans, and loan against property.

On the other hand, LendingKart which was founded only in 2014 and has rapidly widened its reach, raised $32 million in Series B round in July 2016 led by Bertelsmann India Investments.