The Lancer Group Logo
burger
Logo
Close
Vector

Lentra’s $60 million Series B

calendarJanuary 3, 2023
insight
Lentra’s $60 million Series B

Why we’re excited to continue backing the India-based company powering the future of cloud-based lending.

BY VISHAL GUPTA AND ANURAG BEGWANI 11.10.22

Lending doesn’t only happen at banks. If you’re a retail outlet that offers in-store financing or a car dealership that offers equated monthly installments (EMI), you’ll need end-to-end lending software to get the job done. That’s where Lentra comes in.

Lentra, co-founded by D. Venkatesh, Ankur Handa, and Rangarajan Vasudevan, provides a cloud-based lending platform for banks, non-banking financial companies (NBFCs), and fintech lenders. Its software covers every step of the digital lending lifecycle, from compliance to origination and collection. And it’s poised for growth: powered by artificial intelligence, machine learning, and blockchain technologies, Lentra’s API-driven products make the loan approval process lightning fast.

Outpacing legacy on-premise lending products, Lentra’s cloud-based loan orchestration system (LOS) integrates three key products: MultiBureau, a tool that aggregates data from all credit bureaus; BREx, a business rule engine that allows banks to customize their lending protocols; and GoNoGo, an end-to-end credit decisioning platform. It’s already helping one of India’s largest private banks power all of its consumer durable loans without any human intervention in the underwriting process, which has led to significant growth in volume over the last few years alone.

And unlike on-premise software, Lentra users pay as they go via a software-as-a-service (SaaS) model, which the company has found to drive up to twice as many conversions and a 25% reduction in bureau spends, at an 83% faster turnaround time.

A perfect storm in fintech has shown that Lentra is needed. The Covid-19 pandemic accelerated the shift of in-person lending to digital, and the widespread adoption of cloud has set the stage for digital lending SaaS solutions. It’s especially promising that Lentra is based in India, where the SaaS market continues to accelerate and where the fintech sector is expected to process $1 trillion by 2030. As fintech companies increasingly offer more flexible and customer-friendly products, banks and lenders have sought to keep up and follow suit. Lentra sits right in the middle of this storm, and DV and Ankur have built a great team around them to take advantage of this.

Over time, Lentra has the potential to become the cloud operating system of record for banks and lenders. As early investors, we are excited to join Lentra’s $60 million Series B financing and support the company’s next chapter of growth.

Source: https://www.bvp.com/news/lentra-s-60-million-series-b/

Share This Story:

Instagram

San Diego

875 Prospect Street, Suite 305, La Jolla, CA 92037

Toronto

New York