LenDenClub raises $10 mn in funding round, plans $1 bn loan book by FY23

Founded in 2016, LenDenClub uses technology to bring borrowers and investors on its platform.

LenDenClub has raised $10 million in funding that it will use for expanding its business, loan book and users, said the digital peer-to-peer (P2P) lending company.

The funding valued LenDenClub at more than $51 million. The capital came in a Series A round co-led by a consortium of investors that included Tuscan Ventures, Ohm Stock Brokers, Artha Venture Fund and Kunal Shah, the founder of fintech company CRED. Other investors included Alok Bansal (co-founder of Policybazaar.com), Ramakant Sharma (co-founder, Livspace), cricketer Hardik Pandya, Krishna Bhupal (co-founder, Promaxo and Board member of GVK Power & Infra). 

The company, which earlier this year said