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Lentra, a Pune-based digital lending cloud platform, on Tuesday said it will leverage its recent Series B funding of $60 million to venture into Indonesia, The Philippines and Vietnam.
“With this expansion, Lentra aims to reach $100 million in annual recurring revenue (ARR) by March 2024. The move follows the company’s latest fundraise of USD 60 million in a Series B round led by Bessemer Venture Partners, Susquehanna International Group (SIG), and Citi Ventures,” says a Lentra statement.
The platform provides an application programming interface (API)-driven modular architecture to create tailored retail and business loan products for banks and other regulated lending institutions, according to the statement.
Its AI/ML platform gives a 360-degree customer view to create marketing/credit opportunities, it adds.
Lentra said it has a presence across India with 60 partner banks and NBFCs and over 50 million loans have been processed through its platform.
By 2027, the company aims to onboard 250 banking partners, venture into five more countries, and reach $250 million in ARR, the company said.
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