After Fullerton control, Lendingkart gets its new CEO in Prashant Joshi
16 Apr 2025, 11:07 AMJoshi’s elevation comes amid strategic leadership changes following a majority stake acquisition by Temasek’s Fullerton Financial Holdings (FFH).
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MSME lending platform Lendingkart has appointed Prashant Joshi as its new chief executive officer. This development comes after Fullerton Financial Holdings acquired a majority stake in the company.
Joshi previously served as managing director and head of consumer banking at DBS Bank. He comes with three decades of experience and earlier worked at IndoStar Capital Finance, Deutsche Bank, Standard Chartered Bank, and IDBI Bank.
Joshi’s elevation comes amid strategic leadership changes following a majority stake acquisition by Temasek’s Fullerton Financial Holdings (FFH), reported Moneycontrol.
FFH, which first invested in Lendingkart in 2019, has put in nearly Rs 970 crore, of which Rs 252 crore was invested last year. This gave a controlling stake to Fullerton in Lendingkart.
Founded in 2014 by Harshvardhan Lunia, Lendingkart also counts Saama Capital, Mayfield, India Quotient, Bertelsmann, Darrin Capital, and Sistema Asia Fund among its investors. The company has till date secured a total of Rs 1,050 crore ($126 million) in equity from investors.
Lendingkart provides loans averaging Rs 5 lakh to Rs 6 lakh; and has disbursed over Rs 18,700 crore to more than 300,000 businesses across 4,100 cities.
In FY23, the company reported a revenue increase of 33.4% to Rs 858 crore, with a profit of Rs 119 crore. It has not yet released its financial results for FY24.
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