Lentra Layoffs

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Pune-based fintech SaaS startup Lentra laid off an estimated 70-80 employees across various departments earlier this week as part of a restructuring effort to optimize operations and adapt to changing market dynamics. The company, which offers digital lending solutions to banks and has a global presence, confirmed the layoffs but did not disclose the exact number affected. Lentra, founded in 2018 and backed by investors like MUFG Bank, is providing severance packages, outplacement assistance, and extended health insurance to impacted staff. This move follows the startup's recent launch of AI products and comes after it raised $27 million in an extended Series B round last June, having secured over $100 million in total funding to date.

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