Fintech NBFC Vivifi Finance Secures $74M in Funding Blend, Including Key Backing from Unnamed Major US Investor. The Hyderabad-based firm outlines plans for aggressive workforce expansion from 800 to 2,000 employees and regional office establishment in tier II and III cities, with a strategic alliance highlighting the investor's significant presence in the US specialty and alternative finance sector.

Anil Pinapala, the Founder of Vivifi, is optimistic about the company's trajectory, expressing, "With this funding, we are on a path to new heights and aim to expand our customer base to one million users within the next 12-18 months". Established in 2016, Vivifi functions as a Non-Banking Financial Company (NBFC) with a focus on providing credit access to underserved communities in India through small loans. In the past year, the company has successfully disbursed Rs 1,000 crore to over five lakh customers and has set a goal to scale its loan disbursements to Rs 3,000 crore this year. The financial performance for FY23 reveals a revenue of Rs 166 crore and a profit after tax of Rs 16 crore. Vivifi is optimistic about doubling its revenue in the current fiscal year.

The funding infusion not only bolsters Vivifi's market position but also aligns with its broader vision of financial inclusion by extending credit services to a wider segment of the population. The strategic expansion into tier II and tier III cities underscores the company's dedication to reaching underserved regions and making a substantial impact on financial accessibility in India.