Lentra, a cloud lending company, had raised $27 million in an extended series B investment round. The financing was led by MUFG Bank and Dharana Capital.

The company secured $60 million in a series B investment in November, last year. The investment included existing investors Bessemer Venture Partners, SIG Venture Capita, and Citi Ventures.

MUFG Bank contributed to the expanded series B round through its Ganesha investment fund for startups. Lentra and MUFG Innovation Partners Co., Ltd (MUIP), a corporate venture capital within the MUFG Group, made their first investment together. According to a press statement, the agreement will allow Lentra to expand further in South-East Asia.

“This is a testimony to Lentra’s status as the leading Enterprise SaaS (Software as a Service) Platform and the transformational role it stands to play in the evolving digital lending landscape. 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 CEO of MUFG India, said.

“We are proud to back Lentra in its mission to become the one-stop ecosystem across the entire lending lifecycle of leading global financial institutions. The Lentra team has scaled the business in a highly capital efficient manner and is well positioned to benefit from the tailwinds of digitization across markets” Vamsi Duvvuri, Founder and Managing Partner of Dharana Capital, said.

Lentra has grown rapidly as a Software as a Service (SaaS) lending cloud provider in India. Vietnam, the Philippines, Indonesia, and the United States all have subsidiaries. Furthermore, Lentra has launched 1LMS, a Loan Management System designed to help lenders serve billions of consumers with greater speed and accuracy.

The extended round, according to D Venkatesh, Founder & CEO of Lentra, was a critical step for the brand’s global expansion. He was also thrilled about the relationship with the new investors.

“We have been scaling at a fast pace and this extended round is a strategic step towards fueling our ambition of empowering lenders globally. We are very excited that MUFG Bank and Dharana Capital are getting added to our cap table alongside our existing marquee investors like BVP, Citi, HDFC and SIG,” Venkatesh said.

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