/indianstartupnews/media/agency_attachments/s1FnhAYONODoxNkoC8xA.png)
Follow Us/indianstartupnews/media/media_files/4r3vGnunWD2TbgTGfo06.png)
Lentra Logo
Pune-based lending startup Lentra has raised $27 million in an extended Series B round led by MUFG Bank of Japan and Dharana Capital.
This latest investment adds to Lentra's cumulative funding of $76.6 million. In the previous Series B round held in November 2022, the company raised $60 million from existing investors Bessemer Venture Partners, SIG Venture Capital, and Citi Ventures.
Founded in 2019 by D Venkatesh and Ankur Handa, Lentra offers a full-stack digital lending platform to banks. The startup allows banks across the lending life cycle, including loan origination, fraud check, cross-verifying credit scores, and more.
It claims that over 60 financial institutions are using its services and has processed loan applications worth more than $27 billion.
MUFG Bank participated in the funding through its Ganesha investment fund, specifically dedicated to Indian startups. Lentra emphasized that this investment represents the first joint collaboration between MUFG Bank and its corporate venture capital arm, MUFG Innovation Partners (MUIP). The partnership aims to provide Lentra with support to explore potential synergies within the wider group.
Additionally, Lentra has expanded its operations to Vietnam, the Philippines, Indonesia, and the United States by establishing subsidiary companies and accelerating its go-to-market strategies. In a strategic partnership with Google Cloud, its loan management system, 1LMS, was previewed in the Indian markets at an event in May.
Also Read: