PE Fund Investments
Fintech SaaS firm Lentra raises $27-M in extended Series B led by Japan's MUFG
Pune-based cloud-based lending software provider Lentra has raised USD 27 million in an extended Series B round. Japan's Mitsubishi UFJ Financial Group (MUFG) Bank participated in the current round through its MUFG Ganesha Fund. Dharana Capital also invested in the round. The funds were raised at a USD 400 million enterprise valuation, the same at which the company had raised USD 60 million in its series B round in November 2022 in which returning investors Bessemer Venture Partners, SIG Venture Capital, and Citi Ventures had invested. Founded in 2018 by D Venkatesh and Ankur Handa, Lentra is a software-as-a-service (SaaS) provider that helps banks and financial institutions digitise credit disbursal and helps them in loan servicing, know-your-customer (KYC) compliance, collections, etc. Lentra extended its presence to Vietnam, the Philippines, Indonesia, and the United States after its November funding. In May 2023, it launched its loan management system, 1LMS, which helps lenders fulfil the needs of borrowers, in a strategic partnership with Google Cloud.
From the Venture Intelligence PE-VC Deal Database: Between Nov-19 and Nov-22, Lentra AI had raised over USD 76 M. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
