Posted by Mumbai: Lentra AI Private Limited, a digital lending cloud platform has acquired a Chennai and Singapore-based AI startup TheDataTeam (TDT). The main reason Lentra acquired TDT is its behaviour intelligence platform Cadenz. Lentra has not disclosed the financial terms of this acquisition.
Lentra will deploy TDT’s Cadenz platform to help banks and financial institutions make better data-driven decisions on customer creditworthiness based on their unique financial journey. The cloud-native platform works with over 50 banks and financial institutions and has processed over 13 billion transactions.
Launched in 2019, Cadenz.AI is claimed as the industry’s first 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.
TDT’s Founder and CEO Rangarajan Vasudevan has joined Lentra as Co-Founder and Chief Data Officer.
“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,” said Vasudevan.
Lentra is backed by HDFC Bank, Bessemer Venture Partners and SIG. The digital lending cloud platform will integrate its SaaS and API-driven modular architecture with Cadenz’s stack.
The Open API-driven modular architecture helps banks create tailored lending journeys and customer experiences with a 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.
“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,” said Sandeep Mathur, Chief Revenue Officer, Lentra AI Private Limited.
“With this acquisition of Cadenz, Lentra is now on track to become the leading platform of choice for financial institutions globally,” added Mathur.
With a volume of more than 50 million 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.