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Bottomline: HDFC Bank-backed Lentra's growth rate slows as losses worsen

VCCircle

VCCircle · 10m ago

Bottomline: HDFC Bank-backed Lentra's growth rate slows as losses worsen

- Lentra AI Pvt. Ltd, a cloud-based lending platform backed by HDFC Bank, recorded slower revenue growth for the financial year-ended 2024 compared to its historical growth rate of 60-100%. - Lentra AI counted HDFC Bank, Bessemer India, and MUFG Bank Ltd among its investors. - The Pune-based company recently raised $27 million in a bridge round of funding. - Lentra AI's losses have worsened, contributing to the slowdown in growth. - Lentra AI focuses on leveraging AI and cloud technology for its lending operations.

Related News

India's economic growth slows to 6.7% in April-June

VCCircle

VCCircle · 12m ago

India's economic growth slows to 6.7% in April-June

India's economic growth rate declined to 6.7% in the April-June quarter compared to the previous quarter's 7.8%. The slowdown was attributed to a decline in government spending during national elections and political uncertainty impacting investment and consumption. Nevertheless, despite being lower than expected, India's growth rate was still higher than China's 4.7% in the same period. Analysts project that easing inflation and increased government spending will fuel growth in the upcoming months. India's central bank expects the economy to grow at 7.2% for the full fiscal year. However, the country still faces challenges in job creation and inclusive economic growth.

SaaS firm Lentra bags $27 million led by MUFG Bank and Dharana Capital

Money Control

Money Control · 2y ago

SaaS firm Lentra bags $27 million led by MUFG Bank and Dharana Capital

Lentra, a Software as a Service (SaaS) company, has secured $27 million in funding, led by MUFG Bank and Dharana Capital, as per the article. The investment will be used to accelerate the growth and development of Lentra's SaaS platform, which focuses on digitizing trade finance operations. The funding round reflects the confidence of investors in the potential of the company's innovative solutions.

Big hit to savings account holders: SBI, HDFC Bank, ICICI Bank cut interest rates in June 2025 - The Economic Times

Economic Times

Economic Times · 2m ago

Big hit to savings account holders: SBI, HDFC Bank, ICICI Bank cut interest rates in June 2025 - The Economic Times

In June 2025, major Indian banks like SBI, HDFC Bank, and ICICI Bank reduced their savings account interest rates following a 50-basis-point repo rate cut by the Reserve Bank of India. SBI now offers a uniform 2.5% rate, while HDFC and ICICI offer 2.75% on all balances. Other banks like Bank of Baroda, Federal Bank, IndusInd Bank, and RBL Bank also revised their rates, affecting depositors' returns.

General Atlantic-backed Acko’s FY23 revenue growth slows, losses widen

VCCircle

VCCircle · 1y ago

General Atlantic-backed Acko’s FY23 revenue growth slows, losses widen

Insurtech unicorn Acko, backed by General Atlantic, has experienced a slower revenue growth and wider losses for the financial year ending in March 2023. Despite raising $255 million in October 2021, the increase in expenses offset the rise in revenue. Acko has been expanding its services beyond general insurance to include health and life insurance.

RBI to keep repo rate unchanged at meeting next week, chances of rate cut in Feb increased: Report

Livemint

Livemint · 9m ago

RBI to keep repo rate unchanged at meeting next week, chances of rate cut in Feb increased: Report

The Reserve Bank of India (RBI) is expected to maintain its policy rate in its upcoming meeting, following a significant slowdown in GDP growth for the second quarter. However, there is an increased likelihood of a rate cut in February, as per a report by HDFC Bank. The report highlights weak demand side indicators, particularly in consumption and overall investment. Nevertheless, there is optimism for a recovery in rural demand in the second half of the fiscal year, driven by strong agricultural performance and increased government spending. RBI's last meeting in October kept the policy rate unchanged.

Bottomline: PE-owned HDFC Credila's FY24 profit jumps as loan growth sustains

VCCircle

VCCircle · 11m ago

Bottomline: PE-owned HDFC Credila's FY24 profit jumps as loan growth sustains

HDFC Credila Financial Services, a private equity-owned education financier, has reported a significant increase in its profit for fiscal year 2024. The company has continued to experience strong loan growth, with its outstanding loan assets rising by 84% YoY to Rs 28,187 crore. This growth follows the company's impressive 70% growth in the previous fiscal year. HDFC Credila provides loans for educational purposes and has sustained its growth trajectory under private equity ownership.

Bottomline: PE-backed Apollo Pharmacies sustains revenue growth but stays in the red

VCCircle

VCCircle · 3m ago

Bottomline: PE-backed Apollo Pharmacies sustains revenue growth but stays in the red

Apollo Pharmacies Ltd, backed by private equity, continued to show revenue growth but remained unprofitable for the fourth consecutive year through March 2025. The company's efforts to expand its offline store network and ongoing losses in its online business contributed to its financial challenges, despite being India's largest retail pharmacy chain.

Bottomline: VC-backed Fasal doubles revenue in FY24, keeps loss in check

VCCircle

VCCircle · 11m ago

Bottomline: VC-backed Fasal doubles revenue in FY24, keeps loss in check

Agritech startup Fasal, backed by investors including Omnivore Venture Partners and 3one4 Capital, reported a significant increase in revenue for the financial year ending March 2024. Despite the growth, the Bengaluru-based company managed to control its losses. Fasal raised $12 million in funding earlier this year to support its agricultural monitoring and analytics platform.

RBI rate cut expected as inflation eases and credit growth slows in India - BusinessToday

Business Today

Business Today · 2m ago

RBI rate cut expected as inflation eases and credit growth slows in India - BusinessToday

The Reserve Bank of India (RBI) is expected to announce a third consecutive rate cut of 25 basis points in its upcoming meeting to support growth and maintain financial stability amid controlled inflation. Led by RBI Governor Sanjay Malhotra, the meeting aims to shift the monetary stance from neutral to accommodative. Some forecasts suggest a larger rate cut of 50 basis points to counter economic uncertainty. Banks are already reducing interest rates on savings and fixed deposits.

Credit card game is back in full swing as players take the risks

Economic Times

Economic Times · 2d ago

Credit card game is back in full swing as players take the risks

In July, India's credit card market saw a significant revival, with a 5.5% month-on-month increase in expenditures and net new card additions reaching a five-month high, according to the Reserve Bank of India. This growth indicates a resurgence in unsecured lending, with major banks like HDFC Bank and SBI Cards contributing to the expansion. Analysts expect continued improvement in unsecured loans despite a moderation in the overall growth rate from previous years.

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