Vayana Secures USD 20.5 Million In Series D Funding To Expand Supply Chain Finance For Msmes

2024-08-14 02:39:43

(MENAFN- KNN India) New Delhi, Aug 14 (KNN) Vayana, a trade credit infrastructure platform founded in 2017, has successfully raised USD 20.5 million in a Series D funding round, as announced on August 13.

The company, which specialises in supply chain finance and B2B trade enablement solutions, also provides services for E-invoices to corporations and MSMEs and GST returns, E-Way bills as well.

The funding round was spearheaded by SMBC's Asia Rising Fund, with participation from existing investors including the International Finance Corporation (IFC), Chiratae Ventures, and Jungle Ventures.

Family offices such as Quantum State Investment Fund and Emerald Company Private Ltd also contributed to the round.

Vayana aims to address the significant credit gap in India's 65 million-dollar MSME sector.

The company reports that while the total addressable demand is approximately 120 billion dollars per month, banks and financial institutions currently cover only 45 percent of this demand.

Vayana offers a comprehensive stack of trade credit assessment, monitoring, and trade document processing services.

TCM Sundaram, Founder & Vice-Chairman, Chiratae Ventures, highlighted Vayana's role in fulfilling a vital gap for MSMEs and its contribution to India's economic growth.

Ram Iyer, Founder and CEO, Vayana, emphasised the importance of MSMEs to India's economy and the role of affordable trade credit in supporting their success. He expressed gratitude to the company's employees, customers, and investors.

Manpreet Ratia, Partner at Jungle Ventures, noted Vayana's transformation of trade finance and its significant growth since their initial investment in 2017.

The company has stated that this funding will accelerate its commitment to providing affordable financing throughout the supply chain and introduce new products to enhance its suite of trade credit, compliance, and risk management platforms.

(KNN Bureau)

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