The Lendingkart Co-Lending Strategy
The bears are back.
Domestic markets mirrored global sentiments, down sharply at the end of Monday. While the BSE Sensex fell over 827 points, closing below 59,000, the Nifty50 fell over 267 points, ending the day just over 17,490 points.
In the meantime, a new debate is preparing. Two weeks ago, food tech giant Swiggy announced it would allow employees to moonlight, meaning to pursue side gigs or even a second job. And while the jury is still out on the benefits of moonlighting, Wipro Chairman Rishad Premji tweeted, calling it “cheating”.
ICYMI: Take a look on the inside this San Francisco restaurant run entirely by robots.
In today’s newsletter we will talk about
- The Lendingkart Co-Lending Strategy
- Blockchain to digitize documents
- Solving last mile barriers for SMBs
Here’s your quiz for today: what was the first commercially available Android device?
The Lendingkart Co-Lending Strategy
Over the past three years, MSME lending platform Lendingkart has shifted from providing short-term loans through its NBFC branch to joint lending by partnering with financial institutions.
“In October-November 2021, we were doing almost 30-40% of our activity around co-lending, and now almost 90% of the activity is in the same direction. This year, we will disburse more than Rs 4,000 crore in loans,” says CEO and co-founder Harshvardhan Lunia.
A new core business:
- Lendingkart has 16 active partners, including private sector banks and NBFCs, with seven more in the pipeline.
- The co-loan represents 40% of its assets under management.
- The company recorded its third consecutive profitable quarter; made a profit of Rs 50 crore in FY22.
Scanning and verification of documents
For economically disadvantaged tribes living in Gadchiroli district of Maharashtra, government certificates and documents are paramount to avail the benefits.
Enter LegitDoc, a blockchain-based application that helps issue tamper-proof digital documents to stakeholders that can be verified from anywhere in the world, in seconds.
On the chain :
- LegitDoc is deployed on public blockchains like Ethereum and Polygon.
- dApp generates a unique QR code consisting of blockchain evidence embedded on caste certificates with fingerprints.
- The Maharashtra government has partnered with blockchain startup Print2Block to issue certificates.
Solving last mile barriers for SMBs
For small and medium-sized enterprises (SMEs), smooth last-mile logistics is paramount. After all, SMEs need smooth movement of their goods to survive and thrive.
Enter Uncle Delivery, which powers SMBs with an app that uses AI and on-the-ground market monitoring to connect users to on-demand businesses.
- Launched by Sourabh Chatterjee, the startup has a driver base of over 86,000 drivers and an active user base of nearly 24,000 users.
- It operates in Bengaluru, Mumbai, Delhi and Hyderabad and employs nearly 235 people.
- The startup offers users services on two-wheelers, three-wheelers and trucks.
Uncle Delivery Core team
- Time for a reset: Toyota is relaunching its India strategy, doubling down on bets that emerging markets will learn to love its hybrids, as long as the price is right. It partners with Suzuki to break into the Indian hybrid market.
- Discount: Executives at Alibaba and Tencent are focused on cutting costs across the business, from headcount to exiting non-core businesses. This comes after the two companies released a series of second-quarter results that confirmed the giants are no longer growing.
- In the red: U.S. and European stocks fell on Monday as the outlook for major global economies darkened and investors braced for a central bank peak. Growing sentiment of economic gloom precedes the Federal Reserve’s annual rally in Wyoming.
- Potential deal: Amazon is among the bidders for healthcare company Signify Health Inc., joining other heavyweights vying in an auction for the home healthcare service provider. Signify is up for sale in an auction that could value it at over $8 billion.
What was the first commercially available Android device?
Answer: HTC Dream, announced in September 2008.
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