Funding Alert
Trade finance startup: Vayana Network raises Rs 114 crore via International Finance Corporation (IFC) and Prosus-owned PayU in Series C round
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ByStartupStory | April 20, 2022
Vayana Network, the trade finance startup on Wednesday said it has raised Rs 114 crore via International Finance Corporation (IFC) and Prosus-owned PayU in its Series C round, in addition to the Rs 283 crore that has been raised by it as part of the round earlier.
New and existing investors such as Chiratae Ventures, Jungle Ventures, March Capital, Marshall Wace, CDC Group, and family offices in India and abroad were some others that participated in Vayana’s Series C round.
Vayana, founded in 2017 by Ram Iyer, is a B2B trade financial intermediary that connects SMEs and corporates with financial institutions for low-cost access to trade loans. To have facilitated $10 billion in loans to date, and processed over two million transactions has been claimed by the company.
In order to build more products focused on helping SMEs and MSMEs manage their working capital better and become credit-ready, the Pune-based startup said it will use the fresh capital infusion.
Vayana says citing a World Bank report, that MSMEs in India face a credit gap of about $380 billion, providing ample opportunity for the startup in order to grow and thrive.
Including the likes of Indifi, Lendingkart, Kinara Capital, and FlexiLoans, a number of startups looking to bridge this credit gap have cropped up over the last couple of years.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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