Fintech company Lendingkart Technologies Private Limited has acquired digital lending platform Upwards Fintech Private Limited for ₹100 crores.
Luthra and Luthra Law Offices India advised Upwards Fintech Private Limited and its subsidiary Upwards Capital Private Limited on its acquisition.
The transaction team consisted of Sarika Raichur (Partner), Sidhartha Jatar (Senior Associate), Shaurya Jakher (Associate) and Ruthvik Tumuluri (Associate).
Upwards offers personal loans to salaried professionals through its proprietary technology platform, which uses complex algorithms to analyse 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.
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