Lendingkart, SmartShift tie-up to facilitate online financing

Lendingkart Technologies, a leading online platform for facilitating small and medium enterprises (SMEs) in obtaining working capital loans, on Tuesday announced a strategic partnership with Mahindra's SmartShift, a digitally enabled aggregator for cargo owners and transporters.

This collaboration will enable Lendingkart Technologies to arrange easy business loans for SMEs registered on the SmartShift platform.

"SmartShift deals with a large number of small-scale business owners who face hurdles in getting working capital for their business expansion. Through this relationship, we have attempted to make working capital fund easily accessible to SmartShift SMEs," Harshvardhan Lunia, co-founder and CEO, Lendingkart Technologies, said in a statement here.

A part of Mahindra Group, SmartShift is a mobile app for cargo owners and transporters, enabling users to find cargo transporters based on the shipment size, weight and other requirements.

Cargo owners (both businesses and individuals) can access the SmartShift service through either the mobile app (available on Android), the website or the dedicated call centre.

"Through this alliance, we want to enable our customers to inject working capital into their businesses easily and strengthen our relationship with them," Kausalya Nandakumar, CEO of SmartShift, said.