Lentra, a cloud-based lending software provider, has raised $27 million in an extended series B round to make way for strategic investors on its cap table, founder and CEO D Venkatesh told ET.
He added that MUFG Bank and Dharana Capital have invested at a $400 million dollar valuation, the same valuation at which the company had raised $60 mn in its series B round in November 2022. Returning investors Bessemer Venture Partners, SIG Venture Capital, and Citi Ventures had put in the capital back then.
Japan’s Mitsubishi UFJ Financial Group (MUFG) Bank participated in the current round through its MUFG Ganesha Fund, a late stage venture capital fund. The deal marked the first joint investment by the bank and MUFG Innovation Partners, a venture capital firm under the MUFG group.
MUFG will help Lentra explore synergies within the group, including with its strategic partner banks in southeast Asia. “This partnership affirms our commitment to be at the forefront of supporting digital innovation in India, and its expansion to other geographies,” Shashank Joshi, deputy chief executive, MUFG India, said.
“The Lentra team has scaled the business in a highly capital efficient manner and is well positioned to benefit from the digitisation tailwinds across markets,” Vamsi Duvvuri, founder and managing partner, Dharana Capital, added.
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