Vayana Network raises Rs. 283 Cr in Series C funding
Vayana Network has raised Rs. 283 crore in Series C funding led by Chiratae Ventures, CDC Group, Jungle Ventures, March Capital, Marshall Wace, and a few family offices.
Vayana Network founder and CEO Ram Iyer stated, “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.”
Founded in 2017, Vayana Network is B2B trade financial intermediary that aims to connect SMEs and corporates with financial institutions for affordable trade loans. It presently functions in the US, Singapore, Thailand, Malaysia, Vietnam, and Indonesia.
Commenting on the investment, MD and co-founders of Chiratae Ventures Meenakshi Sundaram said, “Across the globe and especially in India, MSMEs play the crucial role of being growth engines of an economy; despite which they suffer from delayed payments and lack of access to low-cost formal sources of finance.” She added, “Vayana not only facilitates access but has worked towards making MSMEs credit ready through its GST compliance and analytics business.”
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