Digital cloud lending platform Lentra raised $27 million as part of its extended Series B led by MUFG Bank and Dharana Capital where MUFG Bank participated through its Ganesha investment fund for Indian startups, marking the first joint investment by the bank and its corporate venture capital arm, MUFG Innovation Partners (MUIP). Lentra stated that this collaboration will enable both entities to support the startup in exploring synergies within the group.

Shashank Joshi, Deputy CEO of MUFG India, expressed the bank’s commitment to supporting digital innovation in India and its expansion to other geographies through this partnership. In November 2022, Lentra had raised $60 million in a Series B funding round from existing investors Bessemer Venture Partners, SIG Venture Capital, and Citi Ventures. At the time, the fintech SaaS platform announced its plans to enter international markets, including the US and Asia, using the fresh funds.

Lentra, founded in 2018 by D Venkatesh and Ankur Handa, offers digital lending solutions to banks through its SaaS fintech platform. It provides a cloud-native full-stack platform that covers various aspects of the lending life cycle, including loan origination, fraud checks, and credit score verification. The platform has already served over 60 financial institutions and processed more than $27 billion worth of loan applications.

Lentra has expanded its presence in Vietnam, the Philippines, Indonesia, and the US by establishing subsidiaries. In a strategic partnership with Google Cloud, the company previewed its loan management system, 1LMS, in the Indian market in May. The recent funding will enable Lentra to fuel its ambition of empowering lenders globally and support its rapid scaling.

Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, commended Lentra’s capital-efficient growth and highlighted the company’s advantage in the digitization trends across markets. Despite regulatory challenges, the digital lending space in India appears to be heading towards a promising future, and Lentra is well-positioned to benefit from this industry growth.

Digital cloud lending platform Lentra raised $27 million as part of its extended Series B led by MUFG Bank and Dharana Capital where MUFG Bank participated through its Ganesha investment fund for Indian startups, marking the first joint investment by the bank and its corporate venture capital arm, MUFG Innovation Partners (MUIP). Lentra stated that this collaboration will enable both entities to support the startup in exploring synergies within the group.

Shashank Joshi, Deputy CEO of MUFG India, expressed the bank’s commitment to supporting digital innovation in India and its expansion to other geographies through this partnership. In November 2022, Lentra had raised $60 million in a Series B funding round from existing investors Bessemer Venture Partners, SIG Venture Capital, and Citi Ventures. At the time, the fintech SaaS platform announced its plans to enter international markets, including the US and Asia, using the fresh funds.

Lentra, founded in 2018 by D Venkatesh and Ankur Handa, offers digital lending solutions to banks through its SaaS fintech platform. It provides a cloud-native full-stack platform that covers various aspects of the lending life cycle, including loan origination, fraud checks, and credit score verification. The platform has already served over 60 financial institutions and processed more than $27 billion worth of loan applications.

Lentra has expanded its presence in Vietnam, the Philippines, Indonesia, and the US by establishing subsidiaries. In a strategic partnership with Google Cloud, the company previewed its loan management system, 1LMS, in the Indian market in May. The recent funding will enable Lentra to fuel its ambition of empowering lenders globally and support its rapid scaling.

Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, commended Lentra’s capital-efficient growth and highlighted the company’s advantage in the digitization trends across markets. Despite regulatory challenges, the digital lending space in India appears to be heading towards a promising future, and Lentra is well-positioned to benefit from this industry growth.