Vayana Network Raises INR 283 Crore in Series C Round

The company creates supply chain finance programs that helps in lowering credit costs by 50 per cent

By
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Vayana Network, a trade finance platform, raised INR 283 crore in Series C funding. Vayana saw participation from existing and new investors, including Chiratae Ventures, Jungle Ventures, March Capital and Marshall Wace, among others.

Vayana Network

Sharing his thoughts in a statement, Ram Iyer, founder and CEO, Vayana Network, said, “Over the last four years, we have grown 20 times on quarterly financing volumes and have reached $8 billion in total financing. 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. 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.”

“Our vision is to create an ecosystem where financing is embedded in a transaction and becomes an almost invisible part of any B2B trade – as simple as swiping a credit card. With our existing and upcoming suite of products, we will solve related challenges such as market discovery, effortless compliance and monitoring, helping every business in a supply chain operate at its best,” Iyer added.

TC MeenakshiSundaram, MD and co-founder, Chiratae Ventures, said, “Vayana has been committed to making trade finance easier, accessible and affordable for all businesses in a supply chain, irrespective of size. Vayana not only facilitates access but has worked towards making MSMEs credit ready through its GST compliance and analytics business.” 

Vayana creates supply chain finance programs that help in lowering the credit costs by 50 per cent and improving the coverage by 100 per cent. 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), added the statement.