Lentra, a supplier of cloud-based lending software, has secured $60 million in new capital headed by existing investors Bessemer Venture Partners and Susquehanna International Group (SIG) Venture Capital. Citi Ventures joined the round as well.

The funds will help to expand into international markets, make acquisitions, and improve products, according to the company. The Pune-based company plans to expand into Indonesia, Vietnam, and the Philippines by March of next year, and to have a global presence in five geographies outside of India by the end of 2023.


It will also prioritize acquisitions to increase its data and analytics engines, as well as payment processing capabilities to improve collection on its stack. The company is likely to seek acquisitions in the robotic process automation sector in order to further automate operations such as loan application documentation.

Lentra, which was founded in 2018, is a Software-as-a-Service (SaaS) provider that assists banks and credit financial institutions in further digitizing credit disbursements and assisting them in various aspects of loan servicing, such as KYC compliance, servicing, and collections.

Loan originations generate over three-fourths of Lentra’s revenue. It also gives banks and financial organizations early warning signs of defaults and bad debt, as well as portfolio scrubs to assess the health of their loan portfolio.

More in fundraise

We have a very significant war chest thanks to this fundraiser, and we will look at possibilities to buy out talent as well as update our systems in order to better serve our consumers, said founder and CEO D Venkatesh, according to a source.

Venkatesh stated that the company’s revenues for FY22 were Rs 80 crore (approximately $10 million). It expects to conclude the current fiscal year with Rs 180 crore (about $22 million) in revenue. With the geographical expansion, the company anticipates non-Indian markets to account for over half of total sales by the end of 2024.

Lentra expects to increase its staff across core technical areas with the financing. It will increase its entire team size from 500 to 700. Beginning next year, Lentra is also planning to enter the performance analytics market. It will assist bank partners in understanding loan product conversions.

In India, Lentra works with over 50 banking partners and financial institutions. And its platform processes over three million loan applications per month. Lentra’s platform has processed more than 13 billion transactions and $21 billion in loans since its launch.

Lentra bought TheDataTeam, a Chennai-based artificial intelligence business, in June (TDT). It will be using TDT’s customer intelligence platform, Cadenz. It will assist clients in making data-driven judgments about the creditworthiness of their consumers.

About Lentra

Lentra Ai Private Limited is a Private company that was formed on July 30, 2018. It is a Non-govt company that is registered with the Registrar of Companies in Pune. It has a paid-up capital of Rs. 64,992,192 and an authorized share capital of Rs. 100,000,000. It is involved in other computer-related activities [for example, maintaining other companies’ websites/creating multimedia presentations for other companies, etc.].

The Annual General Meeting (AGM) of Lentra Ai Private Limited was held on September 3, 2021. Its balance sheet was last filed on March 31, 2021, according to Ministry of Corporate Affairs (MCA) records.

Parag Arigela Rao, Bhavanipratapsinh Bharatsinhji Rana, Jayant Kadambi, Dasharathi Venkatesh, Vishal Vijay Gupta, and are the company’s directors.

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