Fintech SaaS Startup Lentra Raises $60 Million In Series B Funding

Fintech SaaS startup Lentra on Monday closed its Series B funding round, having raised $60 million led by existing investors Bessemer Venture Partners and SIG Venture Capital with participation from Citi Ventures. Masterkey Capital were the investment bankers. The funding will be used for products, platform strengthening and also for international expansion, including in the US

 

Lentra, the class-leading Cloud lending platform, has closed its Series B funding round with a transaction value of $60 million, led by existing investors Bessemer Venture Partners and SIG Venture Capital along with the participation from Citi Ventures. Masterkey Capital was the Investment Bankers. The fund raised will be used for products and platform strengthening and also for international expansion, including the USA. Founded in 2018 by D Venkatesh and Ankur Handa, Lentra is a lending platform designed and developed to empower banks with a fully digital ecosystem. 

“We see a massive opportunity for ourselves in the retail assets and business banking areas worldwide. At the same time, our clients see us as a source of competitive advantage for their business. Ten-fold revenue growth and some of the biggest retail banks as our clients now, act as markers of our solution architecture. I am excited that our investors see the same opportunity and are confident of our ability to execute,” said D Venkatesh, founder & CEO, Lentra. 

Lentra has been at the forefront of digital lending transformation since 2019. It has more than 50 clients in India and will be using the funding to expand overseas in Asia and the US. The Lentra lending Cloud services more than 40 banks and processes over 3 million applications monthly. It has processed over 13 billion transactions and $21 billion worth of loans on its platform so far, claimed by the company in a statement. 

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