Key Points
- Rajesh Kumar Rathanchand joins Lentra as CEO after leading TransUnion CIBIL as MD
- Lentra claims to process over 30 lakh loan applications monthly for 30 banks
- Kumar previously headed retail credit and risk at HDFC Bank for over three decades
Lentra, a Pune-based lending technology company, has appointed Rajesh Kumar Rathanchand as its chief executive officer, the firm announced on Monday.
Kumar, who most recently served as managing director and CEO of TransUnion CIBIL, India’s largest credit information company, brings over 30 years of experience in retail credit, risk management and financial technology. He will lead Lentra’s expansion plans and oversee the development of its credit risk and analytics capabilities, according to the company.
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The appointment comes as Lentra seeks to strengthen its position in the lending technology market, where it provides software that helps banks and non-banking financial companies process loan applications. The company’s platform automates loan decisions, allowing lenders to approve or reject applications in under 10 seconds, Lentra said.
Before his tenure at TransUnion CIBIL, Kumar held senior positions at HDFC Bank, where he served as group head for retail credit and risk. His experience spans building large retail asset portfolios, business-to-business software ventures and data analytics solutions for financial institutions, the company stated.
“I am excited to join Lentra at a pivotal stage of its growth,” Kumar said in a statement. “The opportunity ahead is significant, not just in India, but across global markets still reliant on legacy infrastructure.”
Kumar added that he plans to focus on faster product development and expanding Lentra’s presence beyond India.
What Lentra does for banks and NBFCs
Lentra develops software that digitises the lending process for financial institutions. Its platform handles the entire loan journey, from a customer’s initial application through to the final credit decision, using automated systems that assess risk and verify documents.
The technology replaces manual processes that traditionally required loan officers to review applications by hand. Lentra claims its software can make lending decisions in under 10 seconds by using artificial intelligence, a branch of computing where systems learn from data to make predictions and decisions without explicit programming for each scenario.
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The company offers over 25 configurable loan products covering retail, business and agricultural lending. Banks pay Lentra based on usage rather than a fixed licence fee, the company said.
According to Lentra, its platform serves more than 30 banks and has processed loans worth over ₹1.7 lakh crore to date. The company handles over 30 lakh loan applications each month, it stated.
Backed by global and Indian investors
Lentra counts Bessemer Venture Partners, Susquehanna, Dharana Capital, Citi, MUFG and HDFC Bank among its investors. The company was founded in August 2019 by D Venkatesh, who continues as founder and managing director.
“The banking ecosystem is constantly evolving, with sophistication in managing credit, risk and analytics,” Venkatesh said. “With Rajesh joining to lead Lentra, we underscore our commitment to our clients. His extensive experience will be invaluable in our quest to be the most intelligent and scalable platform for lending processes.”
Your Questions, Answered
Who is Lentra’s new CEO?
Rajesh Kumar Rathanchand has been appointed as Lentra’s chief executive officer. He previously served as managing director and CEO of TransUnion CIBIL and held senior positions at HDFC Bank.
What does Lentra do?
Lentra develops lending technology software that helps banks and NBFCs process loan applications. Its platform automates credit decisions, document verification and risk assessment, claiming to deliver decisions in under 10 seconds.
How many banks use Lentra’s platform?
According to the company, Lentra’s platform serves over 30 banks in India. The firm claims to process more than 30 lakh loan applications monthly.
Who are Lentra’s investors?
Lentra’s investors include Bessemer Venture Partners, Susquehanna, Dharana Capital, Citi, MUFG and HDFC Bank. The company was founded in 2019 by D Venkatesh.
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