Lentra acquires AI startup TheDataTeam to accelerate digital lending for banks and NBFCs

~Aims to offer behavioural intelligence to financial institutions to enhance decision making~

Mumbai, June 28, 2022: Lentra AI Private Limited, one of the fastest growing digital lending cloud platforms, has acquired Chennai and Singapore-based AI company TheDataTeam (TDT). Through this deal, Lentra aims to integrate TDT’s flagship behaviour intelligence platform Cadenz. The platform will help banks and NBFCs make data-driven decisions on customer creditworthiness based on their unique financial journey and launch new innovative products for a faster go-to market.  

Launched in 2019, Cadenz has engineered the industry’s first award winning Customer Intelligence Platform, which simplifies the journey from raw customer data to live intelligence and helps businesses eliminate friction and drive new initiatives in record-quick time.

Following the acquisition, Rangarajan Vasudevan, Founder & CEO, TDT has joined Lentra as Co-Founder & Chief Data Officer.

The cloud-native platform, Lentra works with more than 50 banks and financial institutions and has processed more than 13 billion transactions. The fintech is backed by HDFC Bank, Bessemer Venture Partners, and SIG.  

Talking about the acquisition, Rangarajan Vasudevan, Founder & CEO, TDT said, "Software is eating the world, and data is eating software. While the uses of AI are many, the ability to have a lasting impact is immense in the financial sector due to the vast untapped potential for credit. Lentra has already established itself as the fastest growing lending cloud. Given both companies had ambitions to scale fast in adjacent spaces and in the same geographies, it made perfect sense to merge our strengths in product and business-building." 

Lentra will integrate its SaaS and API-driven modular architecture with Cadenz’s stack. Lentra’s Open API-driven modular architecture helps banks create tailored lending journeys and customer experiences with 95% Straight Through Processing (STP) rate.  This gives banks and financial institutions access to a new customer base, reduces Non-Performing Assets (NPAs), and improves operational efficiencies.

Sandeep Mathur, Chief Revenue Officer, Lentra said, “We are seeing an explosive growth in the credit market. Some of our clients have grown their Loan book by 10X after coming onboard the Lentra lending cloud. By integrating Cadenz platform into the Lentra lending cloud we will be able to provide an even bigger competitive edge to our clients in the entire credit lifecycle, from lead generation through origination to and the post-disbursal activities of loan management system, monitoring, collections and risk management. With this acquisition of Cadenz, Lentra is now on track to become the leading platform of choice for financial institutions globally.”

With a volume of more than 50 Mn applications, Lentra has a proven peak, handling more than 60,000 concurrent users. The cloud platform is highly scalable with a capability to handle more than 1100 API calls/second, making it one of the most preferred digital lending solutions for financial institutions.