The company plans to add over 10Mn users over the next 12 monthsMicrolending startup SmartCoin has raised $7 Mn (INR 52 Cr) in a funding round led by LGT Lightstone Aspada.

SmartCoin is planning to use this funding to extend its loan book to another 10 Mn users over the next 12 months, offering INR 1,500 Cr ($200 Mn).

Prior to this, SmartCOin had raised $2 Mn in Pre-Series A funding round led by an undisclosed Chinese venture fund.

SmartCoin provides small-ticket personal loans to micro-merchants and self-employed blue or grey collar workers, who are otherwise ignored by large banks, other non-banking financial services (NBFC) and micro-lending institutions.

SmartCoin received its NBFC license last year and has disbursed loans worth INR 400 Cr to date. | To read full story, visit https://startuparound.com/read/1584414005.8867445/SmartCoin-Secures-$7-Mn-Funding-To-Disburse-Loans-Worth-$200-Mn?ref=audio_experience