Lendingkart Appoints Industry Veteran Prashant Joshi as CEO Following Fullerton Acquisition
Lendingkart, a leading lendingtech platform focused on micro, small, and medium enterprises (MSMEs), has appointed Prashant Joshi as its new Chief Executive Officer (CEO). The announcement comes shortly after Fullerton Financial Holdings, a Temasek-owned firm, acquired a majority stake in the fintech startup, signaling a significant strategic shift for the company.
A Seasoned Banker at the Helm
Prashant Joshi brings with him 30 years of experience in the banking and financial services industry, having held leadership roles across retail banking, SME lending, and corporate finance. Most recently, he served as Managing Director and Head of Consumer Banking Group at DBS Bank India, where he played a crucial role in scaling the bank’s retail footprint and digital offerings.
According to his LinkedIn profile, Joshi was with DBS Bank for nearly five years, during which he oversaw consumer banking operations and helped the bank strengthen its position in the Indian market. Before that, he was the Managing Director and Chief Operating Officer at IndoStar Capital Finance for four years, where he led strategic business transformation and operational efficiencies.
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Strategic Leadership Amid New Ownership
The appointment of Prashant Joshi comes at a pivotal moment for Lendingkart. With Fullerton Financial Holdings stepping in as the majority stakeholder, the company is expected to accelerate its growth, expand its credit offerings, and deepen its presence in the underserved MSME segment across India.
Joshi’s extensive experience in SME and retail banking aligns with Lendingkart’s core mission—to democratize access to credit for small businesses using technology and data-driven underwriting. His leadership is expected to drive Lendingkart’s next phase of growth, focusing on product innovation, operational scale, and financial inclusion.
Lendingkart’s Mission to Empower MSMEs
Founded in 2014, Lendingkart has emerged as one of India’s most prominent digital lending platforms for MSMEs. By leveraging AI, machine learning, and big data analytics, Lendingkart offers collateral-free working capital loans to small businesses that are often underserved by traditional banks.
The platform has disbursed loans to MSMEs across thousands of cities and towns in India, helping them manage cash flow, invest in growth, and remain financially resilient. With a growing demand for flexible credit in India’s evolving business landscape, the company’s fintech-driven model is seen as a scalable solution to bridge the credit gap.
A New Chapter with Global Backing
Fullerton’s investment in Lendingkart reflects global investor confidence in India’s fintech and MSME sectors. Backed by Temasek Holdings, Fullerton brings deep experience in financial services across emerging markets and is expected to provide both strategic direction and capital support.
With Prashant Joshi now at the helm and Fullerton’s backing, Lendingkart is poised to strengthen its market position, roll out new digital lending products, and continue its mission to empower small businesses across India.
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