MUFG Invests in Indian Cloud Lending Firm Lentraby Fintech News Singapore May 8, 2023
MUFG Innovation Partners (MUIP), a corporate venture capital fund and a wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), has invested in Indian lending platform Lentra. The sum of the investment was undisclosed.
MUIP co-invested with MUFG in Lentra to support the company’s growth journey in India and outside. Through the investment, MUIP said that it will support Lentra to further explore synergies with MUFG Group including its partner banks in Southeast Asia.
Founded in 2018, Lentra is a cloud lending platform empowering banks and Non-Bank Financial Companies (NBFCs) to lend faster. Lentra has a robust presence across India with 60 partner banks and NBFCs and aims to replicate its local growth in the Southeast Asian countries.