M&A

M&A

Digital lender Lentra,AI acquires customer creditworthiness verifier TheDataTeam

Business Standard  

Lentra AI Pvt Ltd, a Pune-headquartered digital lending cloud platform, has acquired Chennai- and Singapore-based Artificial Intelligence (AI) company TheDataTeam (TDT). Following the acquisition, Rangarajan Vasudevan, founder & CEO of TDT, has joined Lentra as co-founder & chief data officer. Launched in 2019, TDT's Cadenz “customer intelligence platform” helps banks and finance firms make decisions on customer creditworthiness by extracting “live intelligence” from raw customer data. Lentra.AI works with over 50 banks and financial institutions and has processed more than 13 Billion transactions.

From the Venture Intelligence PE-VC Deal Database: In Nov-19, Lentra.AI had raised over USD 16 M from Bessemer, Susquehanna International Group (SIG), HDFC and Others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)