Vivriti Capital Raises $55 Million from Existing Investors
- ByStartupStory | March 28, 2022
India’s first tech enabled marketplace Vivriti Capital Pvt. Ltd has announced a $55 million capital raise from its existing investors for its Series C round. Lightrock India and Chicago-based Creation Investments led the fundraising that took the Chennai-based firm’s total fundraise to $165 million since its inception. It is to be mentioned that both Lightrock and Creation had backed Vivriti in its Series A and B rounds as well.
Vivriti Capital provides debt capital to small -and- mid-sized companies (SMEs) operating in India. It had earlier raised a Series B round in two tranches with $100 million in March 2020 and $13.6 million in September 2020 from Lightrock which was then called LGT Lightstone Aspada. Meanwhile, the fresh proceeds will be deployed by the financial services platform to expand its business & technology footprints and hire new talents as well as step up product supply & portfolio management.
It is to be mentioned that over the last five years, Vivriti Capital has built a lending portfolio of $472 million for over 300 clients across 26 states in India. Founder and CEO of Vivriti Capital and Vivriti Asset Management, Vineet Sukumar says that the company is extremely thrilled to conclude a raise with the support of Lightrock and Creation Investments. The equity capital will give sufficient firepower to scale across domestic and international markets, he said.
The lender will partially be disbursing the fresh money to its asset arm Vivriti Asset Management to ramp up its operations. The asset Management arm on Wednesday also marked the final close of its second debt fund at around $46 million.
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