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Business EconomyPosted at: Nov 11 2021 4:30PM


Vayana Network raises Rs 283 crore in Series C funding round

Bengaluru, Nov 11 (UNI) India’s largest trade finance platform Vayana Network on Thursday announced raising of Rs 283 crore in Series C funding round.
Vayana saw participation from existing and new investors, including Chiratae Ventures, CDC group, Jungle Ventures, March Capital, Marshall Wace and some of the large family offices from India and abroad, Vayana Network Founder and CEO Ram Iyer said.
Vayana is one of India's largest supply chain finance platforms in India, having enabled finance of over USD 8 billion, including over a billion-dollar of finance through B2B card flows to over 22,000 MSMEs for over 1000 supply chains in 25 different sectors, he said.
Vayana connects over 1000 corporates and their trade ecosystems to provide digital, convenient, and affordable access to credit for their payables and receivables, Iyer said.
With its proprietary technology, Vayana has processed over 1.7 million transactions and offers a zero-change experience to customers, he stated.
The network today spans across 600 cities and 1150 plus pin codes in India and extends to 20 countries across the globe, Iyer said.
Vayana creates supply chain finance programs that help in lowering the credit costs by over 50 percent and improving the coverage by 100 percent, he said.
Vayana’s compliance business which consists of GST Suvidha Provider (GSP) services holds over 20 per cent market share of the e-invoicing in India.
The analytics business (GBS) helps customers to monitor the health of their business. Vayana recently received in-principle approval to set up an ITFS platform at the GIFT City (Gujarat).
"In Vayana, we have found the right partner to provide a solution for cash flow based lending, while simultaneously helping small businesses grow sustainably," Chiratae Ventures MD and Co-Founder TC Meenakshi Sundaram said.
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