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HomeInsightNews & UpdateFintech Start-up Lentra Acquires AI Startup TheDataTeam

Fintech Start-up Lentra Acquires AI Startup TheDataTeam

Fintech Start-up Lentra Acquires AI Startup TheDataTeam

HDFC Bank-backed Lentra, a digital lending platform has acquired AI startup TheDataTeam (TDT) for an undisclosed amount.

With this acquisition, Lentra will deploy TheDataTeam’s customer intelligence platform Cadenz to facilitate banks and financial institutions in making data-driven decisions related to customer credit.

As part of this acquisition, TheDataTeam founder Rangarajan Vasudevan will join Lentra as co-founder and chief data officer.

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The Chennai-based TheDataTeam was founded in 2014 by Rangarajan Vasudevan, It provides enterprise-level AI solutions to a number of companies, including Microsoft, Google, Cloudera, AWS, Hortonworks, MapR, and others.

TDT’s customer intelligence platform Cadenz transforms raw customer data into practical data for organizations.

“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, Rangarajan Vasudevan, founder and CEO of TheDataTeam.

The Mumbai-based Lentra was founded in 2019 by D Venkatesh and Ankur Handa, It is a SaaS platform that provides various types of loan solutions to financial institutions.

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The company claims to serve over 50 financial institutions and has processed over 13 billion transactions on its platform.

“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 life cycle. By acquiring Cadenz, Lentra is now on track to become the leading platform of choice for financial institutions globally,” said, Sandeep Mathur, chief revenue officer at Lentra.

Lentra is backed by HDFC Bank, Bessemer Venture Partners, and SIG.

About Lentra

Lentra is driving lending into the future with its simple, configurable, and secure technology platform that helps accelerate embedded banking with speed at scale.

Lentra is transforming the lending space with a SaaS model that simplifies the digital inclusion, makes loan approvals faster and seamless than ever before. Powered by AI, ML and Blockchain technologies, Lentra’s API-driven modular architecture helps banks create tailored lending products and customer experiences with an astounding 96% STP rate, all resulting in increased access to the new customer base, reduced NPAs, and improved operational efficiencies.

About TheDataTeam

TheDataTeam(TDT) is an AI solutions company helping businesses achieve unparalleled agility by building AI solutions. TheDataTeam specializes in building scalable turnkey AI solutions with quick turnaround and ease in business process integration.

TheDataTeam has engineered Cadenz, the market’s first customer intelligence platform that provides enterprises with live behaviour intelligence about its customers using its data automatically. With their platform, they enable cognitive customer experiences across the entire lifecycle, starting from customer acquisition and onboarding, cross-selling and up-selling to grow revenue per customer, and to service customers, as they mature significantly reducing incidents of dissatisfaction and churn.

With offices spread across 3 cities in APAC, we have successfully implemented Cadenz at over 30 enterprises. Their clients include marquee banks, insurers, telcos, and petroleum companies, and is a preferred AI suite provider for Enterprises. TheDataTeam is founded by veterans in the big data and data science worlds and holds strategic partnerships with cloud companies.

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