Indian lendtech firm Lentra has secured $27 million in a Series B extension round led by MUFG Bank and Dharana Capital. The funding will support Lentra’s plans for international expansion and the development of new products.
Facts
- Lentra has raised $27 million in a Series B extension round led by MUFG Bank and Dharana Capital.
- The extension follows on from Lentra’s $60 million Series B round held in November last year, which involved investors such as Bessemer Venture Partners, SIG Venture Capital, and Citi Ventures.
- Founded in 2019, Lentra operates a cloud-native Software-as-a-Service (SaaS) platform that helps financial institutions create customizable lending products.
- Lentra currently serves over 60 financial institutions and has processed more than $27 billion worth of loan applications on its platform.
- Lentra has expanded its operations into countries including Vietnam, the Philippines, Indonesia, and the US by establishing subsidiaries.
- Lentra has recently launched a new loan management system called 1LMS.
- With the fresh funding, Lentra plans to develop new products and focus on expanding its presence in the highly lucrative US and Asian markets.
