Lentra, a technology provider in the lending space, announced it has closed on a $60 million funding round, and at least some of that windfall will be earmarked for RPA investments.
According to a report in the Economic Times, the Pune, India-based lending software company will use the cash infusion for expansion into Indonesia, Vietnam, the Philippines and beyond. More importantly, it will give Lentra the resources to seek out acquisitions in the RPA space.
Founded in 2018, Lentra is a Software-as-a-Service (SaaS) provider that helps banks continue digital transformation efforts as they apply to credit disbursals, loan servicing, know-your-customer (KYC) compliance, and collections.
While the financial services industry was an early adopter of RPA and intelligent automation, there is still room for banks to implement those solutions. Lentra now has the resources and the stated desire to fill that gap.