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Cloud Lending Platform Lentra Raises $60 Million, Will Use Funds for Product Strengthening and Global Expansion

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cloud loans platform Lentra raised $60 million in Series B round on Monday led by existing investors Bessemer Venture Partners and SIG venture capitalwith the participation of Citi Ventures.



The company said it will use the funds for products and platform strengthening as well as global expansion, including the US.

“We see a huge opportunity for ourselves in retail assets and corporate banking around the world. Ten-fold revenue growth and some of the largest retail banks like our customers today act as markers of our solution architecture,” said D. Venkatesh, Founder and CEO , Lentra.

The four-year-old technology startup is one of the fastest growing enterprise software-as-a-service (SaaS) companies in India, enabling banks to embrace fully digital processes.

“We are excited to partner with Lentra to help establish their global footprint. Lentra empowers lenders to fuel the dreams of millions with effective financial inclusion and credit decisions,” said Vishal GuptaPartner at Bessemer Venture Partners.

Founded in 2018 by Venkatesh and Ankur HandaLentra lends cloud services to more than 40 banks and processes more than 3 million requests per month.

It has processed more than 13 billion transactions and $21 billion in loans on its platform to date.

“Lentra has helped some of the largest banks in India democratize credit access through its modular cloud lending architecture by expanding into newer retail assets through instantly configurable credit pathways,” said Bhavanipratap Rana, investment advisor at SIG.

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