Lendingkart acqui-hires personal loans startup KountMoney

Indian online lending firm Lendingkart has acqui-hired the team behind personal loans marketplace KountMoney.

The financial terms of the deal are undisclosed and it is not known if KountMoney will continue to operate.

Lendingkart CEO Harshvardhan Lunia saying the startup would allow it to strengthen its tech and leverage the team’s data analytics expertise.

The companies’ services differ in that KountMoney aims to provide loans to salaried individuals while Lendingkart targets entrepreneurs and small businesses.

It could potentially use the acqui-hire to expand into personal loans.

Founded in October last year KountMoney raised an undisclosed round from angel backers in November.

Lendingkart has taken on $42m in funding to date, most recently a $32m Series B round led by Bertelsmann India Investments and Darrin Capital Management.

Copyright © 2016 FINTECH GLOBAL

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