Trade finance startup: Vayana Network raises Rs 114 crore via International Finance Corporation (IFC) and Prosus-owned PayU in Series C round
- 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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