Fintech SaaS startup Lentra announced on November 14 that it had raised $60 million in a Series B round led by existing investors Bessemer Venture Partners and SIG Venture Capital, with participation from Citi Ventures.

Masterkey Capital acted as an investment banker advising on the transaction. The new funding will be used to strengthen and develop products and platforms as well as expand internationally, including in the United States.

Founded in 2018 by D Venkatesh and Ankur Handa, Lentra Lending Cloud provides 3rd party API connectors to a variety of data sources, including many types of pre-configured loan processes, loan management systems, customer intelligence and a no-code business rules engine (BREx) Some important modules are formed for customers to use out of the box. Customers can choose to use all or some of these modules according to their needs.

It currently processes over 3 million applications per month. It has more than 50 clients in India and will use the funds for overseas expansion in Asia and the US.

Everett Leonidas, Citi Ventures Director and Asia-Pacific Lead Investor, added: “Lentra is our first fintech investment in India, and we are very excited about the team’s ability to develop and scale low-friction software solutions for lenders. As a global bank, we look forward to Lentra expanding its offerings and platform internationally.”