HDFC Bank-backed Lentra acquires AI startup TheDataTeam for undisclosed sum

The deal involves the acquisition of the customer intelligence platform Cadenz

Artificial intelligence, AI, thedatateam
By integrating the Cadenz platform, Lentra can provide an even bigger competitive edge to clients in the entire credit lifecycle
Abhijit Lele Mumbai
2 min read Last Updated : Jun 28 2022 | 1:55 PM IST
HDFC Bank-backed Lentra AI Private Limited, a digital lending cloud platform, has acquired Chennai and Singapore-based Artificial Intelligence (AI) company TheDataTeam (TDT) for an undisclosed amount.

Through this deal, Lentra will integrate TDT’s behaviour intelligence platform Cadenz which helps banks and finance firms make decisions on customer creditworthiness based on a unique financial journey. It will also help in launching new products for a faster go-to-market.

Launched in 2019, Cadenz simplifies the journey from raw customer data to live intelligence and helps businesses eliminate friction and drive new initiatives quickly.

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Following the acquisition, Rangarajan Vasudevan, Founder & CEO of TDT, joined Lentra as co-founder & chief data officer. Lentra, founded in 2019 by D Venkatesh and Ankur Handa, is backed by HDFC Bank, Bessemer Venture Partners, and SIG.

In a statement, Sandeep Mathur, Chief Revenue Officer, Lentra, said there is explosive growth in the credit market. Some of Lentra’s clients have grown their loan book by ten times after the Lentra lending cloud came on board.

By integrating the Cadenz platform, Lentra can provide an even bigger competitive edge to clients in the entire credit lifecycle. The lifecycle covers activities like lead generation through the origination and the post-disbursal activities of the loan management system, monitoring, collections and risk management.

The cloud-native platform, Lentra, works with over 50 banks and financial institutions and has processed more than 13 billion transactions. The cloud platform is highly scalable and can handle more than 1100 API calls/second, making it one of the most preferred digital lending solutions for financial institutions, it said.

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Topics :Artificial intelligenceHDFC BankStartupsAI start-upIndian start-upscloud platformacquisition

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