Pune-based fintech SaaS startup Lentra recently undertook a major restructuring process, resulting in layoffs across various departments. The decision was aimed at optimizing operations and adapting to changing market dynamics. According to sources, the number of employees impacted by this restructuring could be as high as 70-80, although this figure remains unverified.
Background
In June of last year, Lentra secured $27 million (approximately INR 223 crore) in its extended Series B funding round. The funding was led by MUFG Bank and Dharana Capital, positioning Lentra as a promising player in the finance SaaS industry.
The Restructuring at Lentra
Cofounder and President Ankur Handa attributed the layoffs to the startup’s commitment to streamlining operations. As the fintech landscape evolves, Lentra aims to position itself strategically for sustained growth.
While the layoffs are undoubtedly challenging for affected employees, Lentra’s leadership believes that these measures will ultimately contribute to the company’s long-term success.
Stay tuned for further updates as Lentra navigates this critical phase in its journey.
Note: The information provided is based on available sources and may be subject to updates.
Disclaimer: The content above is a summary based on available news sources. For the most accurate and up-to-date information, please refer to the original articles linked below.
- Read more: Exclusive: Fintech SaaS Startup Lentra Lays Off Employees To ‘Optimise Operations’
- Read more: SaaS startup Lentra lays off employees to streamline operations
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