MUFG Bank invests $27m in Indian cloud lending platform Lentra (update)

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Lentra, an India-based cloud lending platform, has raised US$27 million from Dharana Capital and Mitsubishi UFJ Financial Group (MUFG) Bank, which joined the round through its Ganesha investment fund.

Funding details

• Funding amount: US$27 million
• Lead investors: MUFG Bank (Mitsubishi UFJ Bank), Dharana Capital
• Stage: Bridge
• Source

Lentra enables financial institutions to automate retail finance and credit assessment, speeding up the lending process.

The deal marks the first joint investment by MUFG Bank and MUFG Innovation Partners, the group’s corporate VC arm. The two firms aim to help Lentra collaborate with MUFG and its partner banks in Southeast Asia.

The new funding round follows MUFG setting up a US$100 million fund with Indonesia-based Bank Danamon to back series B fintech startups that specialize in lending, payments, SaaS, ESG, wealth management, and embedded finance.

See also: VC funds tracker: Capria Ventures’ $100m fund reaches first close

Meawwhile, in November 2022, Lentra raised US$60 million in a series B funding round joined by SIG Venture Capital, Bessemer Venture Partners, and Citi Ventures, among others.

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