Fintech software-as-a-service (SaaS) platform, Lentra, has successfully raised $27 million in an extended Series B funding round. The round was led by prominent investors including Bessemer Venture Partners, SIG, and Citi Ventures. With this funding, Lentra’s total funding now stands at $60 million.
Lentra offers a cloud-based platform that enables financial institutions to automate and streamline their lending processes. The platform’s robust features encompass loan origination, underwriting, and servicing. It caters to a diverse range of customers, including banks, credit unions, and non-bank lenders.
The newly acquired funding will be utilized by Lentra to expand its product offerings, bolster its sales and marketing team, and venture into new markets. Additionally, Lentra aims to accelerate its growth through strategic acquisitions.
D Venkatesh, CEO, and co-founder of Lentra expressed excitement about the partnership with Bessemer Venture Partners, SIG, and Citi Ventures, acknowledging their experience and expertise as invaluable assets for the company’s continued growth.
Ajay Agarwal, a partner at Bessemer Venture Partners, commended Lentra for building a leading platform that automates and streamlines lending processes for financial institutions. The partnership aims to support Lentra’s growth and market presence.
Here are the key takeaways from Lentra’s funding round:
- The investment from Bessemer Venture Partners, SIG, and Citi Ventures signifies a significant vote of confidence in Lentra and the fintech SaaS market.
- Lentra is poised to capitalize on the increasing demand for fintech solutions within the financial industry.
- The company boasts a strong team, a well-designed product, and a supportive investor base.
- Lentra is expected to emerge as a major player in the fintech SaaS market in the coming years.
With its advanced technology, Lentra is well-positioned to transform and revolutionize lending processes for financial institutions. The company’s commitment to innovation and efficiency will undoubtedly fuel its success in the rapidly evolving fintech landscape.
