Cloud lending platform Sentra has raised $60 Million in a series-B funding round led by existing investors Bessemer Venture Partners and SIG Venture Capital. Citi Ventures also participated in this round. This funding will be used to improve products and its platform. The company also aims to expand in international markets including the US.
HDFC Bank is also an existing Lentra investor but it didn’t participate in the latest funding round.
D Venkatesh, Founder & CEO, Lentra said, “We see a massive opportunity for ourselves in the retail assets and business banking areas worldwide. At the same time, our clients see us as a source of competitive advantage for their business. Ten-fold revenue growth and some of the biggest retail banks as our clients now, act as markers of our solution architecture. I am excited that our investors see the same opportunity and are confident of our ability to execute.”
Lentra is a four-year-old technology company founded by Venkatesh and Ankur Handa in 2018. The SaaS company helps banks get fully digital processes. The company is profitable and is growing well. The company has some key customers including HDFC Bank, Federal Bank, Standard Chartered, and IDFC First Bank. The company boasts more than 50 clients and claims to have processed over 13 billion transactions to date.
The company offers 3rd party API connectors to several data sources that can be used by banks in their existing offerings. Lentra offers several products such as a document management system, customer verification flow, credit enquiring platform, and more. The company charges clients based on their usage.
