This was the Series B of the funding round as the SaaS startup is aiming at having an international presence, business expansion, as put in by the company for acquisitions and for product enhancement.
Having hit the headlines this June for acquiring Chennai and Singapore-based Artificial Intelligence startup TheDataTeam, this fintech startup has now raised $60 Mn in series B funding. Lentra took to the Linkedin post to break the funding news saying, “Yay! The last 3 years at Lentra have been a great ride while becoming #1 Cloud Lending Platform. With our recent Series B funding round with a transaction value of USD 60 mn, led by existing investors #BVP and #SIG with participation from #Citi Ventures, we are ready for the world as the most trusted digital lending platform, empowering clients to democratise credit through rapid processing and accurate decisioning”.
About the startup-
Lentra was founded by Ankur Handa and D Venkatesh in the year 2018 and is headquartered in Pune. This fintech company is a Software-as-a-Service provider which helps digitise banking and other financial operations like credit disbursals, know-your-customer (KYC) compliance, loan servicing etc. Lentra has achieved the milestone of having processed over 13 billion transactions and loans.
Head of APAC, Citi Ventures Investments, Everett Leonidas, said during the funding round, “Lentra is our first fintech investment in India, and we are very excited about the team’s ability to develop and scale low-friction software solutions for lenders. As a global bank, we look forward to Lentra scaling up their products and platform internationally.”