Lentra, a Pune, India-based digital cloud lending platform, announced that it raised $27 million in an extended Series B funding round led by MUFG Bank and Dharana Capital.
The fresh funds will be used to foray into international markets, including the US and Asia.
D Venkatesh, Founder & CEO, Lentra, “We have been scaling at a fast pace and this extended round is a strategic step towards fuelling our ambition of empowering lenders globally. We are very excited that MUFG Bank and Dharana Capital are getting added to our cap table alongside our existing marquee investors like BVP, Citi, HDFC and SIG.”
The company offers a cloud-native full-stack platform that allows banks across the lending life cycle, including loan origination, fraud checks, cross-verifying credit scores, and more.
Lentra has extended its presence in Vietnam, the Philippines, Indonesia, and the US by setting up subsidiaries. The company has also completed the launch of its loan management system called 1LMS which enables lenders to fulfill the needs of borrowers at accelerated speed and accuracy.
Company: LENTRA AI PRIVATE LIMITED
Raised: $27.0M
Round: Series B
Funding Month: June 2023
Lead Investors: MUFG Bank and Dharana Capital
Additional Investors:
Company Website: https://lentra.ai/
Software Category: Digital Lending and Software Solutions
About the Company: Founded in 2018 by D Venkatesh and Ankur Handa, Lentra is a Software-as-a-Service (SaaS) provider that helps banks and financial institutions digitize credit disbursal and helps them in various aspects of loan servicing, including know-your-customer (KYC) compliance, collections, etc. Lentra's mission is to fuel the new-age lending ambitions of customers across the globe through digital transformation and the creation of a powerful digital ecosystem.
Source: https://inc42.com/buzz/lending-platform-lentra-raises-27-mn-funding-to-strengthen-its-global-play/ https://www.thehindubusinessline.com/news/digital-lending-firm-lentra-raises-27-million-in-funding-round/article66938076.ece