Trade Financing Platform Vayana Network Secures INR 283 Crore from Chiratae Ventures & Others
Trade Financing Platform Vayana Network Secures Fund INR 283 Crore from Chiratae Ventures & Others
Vayana Network, a trade financing platform, secured INR 283 crore Series C fundraising round headed by Chiratae Ventures, CDC Group, Jungle Ventures, March Capital, Marshall Wace, and various offices in India and overseas.
Vayana is a B2B trade finance intermediary that links SMEs and corporations with financial institutions for low-cost trade loans. It was founded in 2017. The business claims to have helped over 22,000 MSMEs get $8 billion in financing for over 1,000 supply chains in 25 different industries.
Ram Iyer, founder and CEO of Vayana said, “we have strongly believed that every segment of the supply chain and for every type of trade, there needs to be a relevant product that allows the business to grow sustainably. Given our strong presence in credit enabling infrastructure such as GST and e-invoicing coupled with the launch of our Good Business Score (GBS), we have managed to reach the smallest of businesses, connecting them to the largest lenders”.
According to Vayana, its compliance business has over 20% market share in India's e-invoicing sector and helps firms save over 50% on credit charges.
It generates the majority of its money by charging borrowers a small yearly fee and collecting a portion of the interest rates charged to traders by banks. Its USP, according to the company, is its low interest rates, which have allowed it keep clients for so long.
Chiratae Ventures' managing director and co-founder, TC Meenakshi Sundaram, "across the globe and especially in India, MSMEs play the crucial role of being growth engines of an economy; despite which they suffer from delayed payments and lack of access to low-cost formal sources of finance”.
She underlined, “Vayana not only facilitates access but has worked towards making MSMEs credit ready through its GST compliance and analytics business”.
The company presently operates in the United States, Singapore, Thailand, Malaysia, Vietnam, and Indonesia, with plans to expand to other countries in the near future.
In its Series A round, it collected $4 million from investors such as Jungle Ventures and Chiratae Ventures.
Vayana Network, a trade financing platform, secured INR 283 crore Series C fundraising round headed by Chiratae Ventures, CDC Group, Jungle Ventures, March Capital, Marshall Wace, and various offices in India and overseas.
Vayana is a B2B trade finance intermediary that links SMEs and corporations with financial institutions for low-cost trade loans. It was founded in 2017. The business claims to have helped over 22,000 MSMEs get $8 billion in financing for over 1,000 supply chains in 25 different industries.
Ram Iyer, founder and CEO of Vayana said, “we have strongly believed that every segment of the supply chain and for every type of trade, there needs to be a relevant product that allows the business to grow sustainably. Given our strong presence in credit enabling infrastructure such as GST and e-invoicing coupled with the launch of our Good Business Score (GBS), we have managed to reach the smallest of businesses, connecting them to the largest lenders”.
According to Vayana, its compliance business has over 20% market share in India's e-invoicing sector and helps firms save over 50% on credit charges.
It generates the majority of its money by charging borrowers a small yearly fee and collecting a portion of the interest rates charged to traders by banks. Its USP, according to the company, is its low interest rates, which have allowed it keep clients for so long.
Chiratae Ventures' managing director and co-founder, TC Meenakshi Sundaram, "across the globe and especially in India, MSMEs play the crucial role of being growth engines of an economy; despite which they suffer from delayed payments and lack of access to low-cost formal sources of finance”.
She underlined, “Vayana not only facilitates access but has worked towards making MSMEs credit ready through its GST compliance and analytics business”.
The company presently operates in the United States, Singapore, Thailand, Malaysia, Vietnam, and Indonesia, with plans to expand to other countries in the near future.
In its Series A round, it collected $4 million from investors such as Jungle Ventures and Chiratae Ventures.
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