Lentra Raises $27 Million In Extended Series B Round The extended Series-B round was led by MUFG Bank and Dharana Capital
By Teena Jose
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Cloud-lending firm Lentra has raised $27 Million as a part of their extended series B round led by MUFG Bank and Dharana Capital, an investment firm with a focus on making concentrated investments into category-defining technology companies in India and other emerging markets. The software as a service startup had also raised $60 million in series-B round on November 22 by its existing investors Bessemer Venture Partners and SIG Venture Capital with participation from Citi Ventures.
"We have been scaling at a fast pace and this extended round is a strategic step towards fueling our ambition of empowering lenders globally. We are very excited that MUFG Bank and Dharana Capital are getting added to our cap table alongside our existing marquee investors like BVP, Citi, HDFC and SIG," said D Venkatesh, founder and CEO, Lentra.
MUFG Bank, through its Ganesha investment fund for Indian startups, has invested in Lentra, which marks the first joint investment by the bank and MUFG Innovation Partners Co. With this collaboration both the entities are poised to support Lentra to further explore synergies within the Group, including its strategic partner banks in South-East Asia.
"This is a testimony to Lentra's status as the leading Enterprise SaaS (Software as a Service) Platform and the transformational role it stands to play in the evolving digital lending landscape. This partnership affirms our commitment to be at the forefront of supporting digital innovation in India and its expansion to other geographies," said Shashank Joshi, deputy CEO, MUFG India.
Founded in 2019, by D Venkatesh and Ankur Handa, Lentra is a Cloud-native platform designed and developed to empower financial institutions with tomorrow's lending ecosystem, today.
