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Trade finance platform Vayana Network has raised Rs 283 crore in funding, the company said on Thursday. Vayana saw participation from existing and new investors in the Series C funding round.
Vayana has given more than $8 billion as credit to 22,000 small businesses in 25 sectors. Its network spans 600 cities in India and extends to 20 countries across the globe.
Chiratae Ventures, CDC group, Jungle Ventures, March Capital, Marshall Wace and some of the large family offices in India and abroad were among investors in the company’s latest funding round.
“Over the last 4 years, we have grown 20 times in terms of quarterly financing volumes and have reached $8 billion in total financing to date. But more than these numbers, we have always defined our role as enablers who provide access to affordable and convenient finance to every member of the supply chain,” said Ram Iyer, founder and chief executive officer of Vayana Network.
Vayana enables credit to its clients from banks and non-bank lenders for up to 90 days for a fee that varies from 20-40 bps of the interest, which is priced at 12-15 per cent. It does not hold the credit on its books but is responsible for the timely repayment, Iyer had said before.
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