With this acquisition, Lentra will deploy TDT’s customer intelligence platform Cadenz to facilitate banks and financial institutions in making data-driven decisions.
As part of the acquisition deal, TDT’s founder Rangarajan Vasudevan has joined Lentra as the co-founder and chief data officer.
Lentra counts HDFC Bank, Bessemer Venture Partners, and SIG as its investors.
Fintech SaaS startup, Lentra has acquired Chennai-based AI startup TheDataTeam (TDT) for an undisclosed amount. Following this acquisition, Lentra will deploy TDT’s customer intelligence platform Cadenz to facilitate banks and financial institutions in making data-driven decisions relating to customers’ credit worthiness. Besides, the acquisition will also help Lentra to launch products as a part of its go-to-market strategy.
As part of the deal, TDT’s founder Rangarajan Vasudevan will join Lentra as the co-founder and chief data officer.
Rangarajan Vasudevan, founder, and CEO of TDT said, “Lentra has already established itself as the fastest-growing lending cloud. Given both companies had ambitions to scale fast in adjacent spaces and the same geographies, it made perfect sense to merge our strengths in product and business-building.”
- Founded in 2014 by Vasudevan, TDT offers enterprise-level AI solutions to several companies including Microsoft, Google, Cloudera, AWS, Hortonworks, and MapR, among others. Its customer intelligence platform Cadenz transforms raw customer data into insightful data for organizations.
Founded in 2019 by D Venkatesh and Ankur Handa, Lentra is a SaaS platform that offers a slew of lending solutions to financial institutions. It claims to be serving over 50 financial institutions and has processed over 13 Bn transactions on its platform.
Following the recent acquisition, Lentra will integrate its SaaS and API solutions with Cadenz’s stack. This will help Lentra’s customers to have access to a new customer base, reduce non-performing assets, and improve operational efficiencies.
According to the startup, Lentra counts HDFC Bank, Bessemer Venture Partners, and SIG as its investors.
In the SaaS ecosystem, Lentra faces competition from startups such as Toplyne, SaaS Labs, Zluri, and Draup.
Some of the emerging homegrown startups that are working in the SaaS industry are BarRaiser which secured $4.2 Bn, Toplyne raised $15 Mn, and OSlash received $5 Mn funding.