Fintech company Lendingkart Technologies (Lendingkart) has acquired digital lending platform Upwards Fintech in a deal valued at USD12 million.
Luthra and Luthra Law Offices India advised Upwards Fintech Private and its subsidiary Upwards Capital Private Limited (Upwards) on the acquisition by Lendingkart.
Partner Sarika Raichur led the Luthra and Luthra team with senior associate Sidhartha Jatar, and associates Shaurya Jakher and Ruthvik Tumuluri.
Upwards offers personal loans to salaried professionals using complex algorithms to analyse from a wide range of sources to underwrite and disburse loans. It provides instant access to funds in a simple and transparent way.
Lendingkart facilitates the granting of working capital loans and business loans to SMEs across India, using a quick online process with minimum documents and also provides other related services.