Vayana Network, India’s largest trade financing network, announced a Rs 283 crore Series C investment round on Thursday.
Existing and new investors, including Chiratae Ventures, CDC Group, Jungle Ventures, March Capital, Marshall Wace, and some of India’s and abroad’s largest family offices, participated in Vayana, according to Vayana Network Founder and CEO Ram Iyer.
According to him, Vayana is one of India’s largest supply chain finance platforms, having facilitated over USD 8 billion in financing, including over a billion dollars in B2B card, flows to over 22,000 MSMEs for over 1000 supply chains in 25 different industries.
According to Iyer, Vayana connects over 1000 businesses and their trade ecosystems to provide digital, easy, and inexpensive finance for payables and receivables.
According to him, Vayana’s patented technology has completed over 1.7 million transactions and provides clients with a zero-change experience.
According to Iyer, the network now covers 600 cities and 1150+ pin codes in India, as well as 20 nations across the world.
Vayana develops supply chain financing strategies that reduce credit costs by over 50% while increasing coverage by 100%, according to him.
Vayana’s compliance business, which includes GST Suvidha Provider (GSP) services, has a market share of over 20% in India’s e-invoicing sector.
The analytics business (GBS) assists clients in keeping track of their company’s health. Vayana just gained preliminary clearance to establish an ITFS platform at 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.
