Chennai-based online enterprise debt platform Vivriti Capital has raised $50 Mn in its Series B funding from LGT Lightstone’s India focussed investment platform LGT Lightstone Aspada.
Founded by Gaurav Kumar and Vineet Sukumar, Vivriti Capital said that the funding will be used to enhance the technology stack. It’ll also invest in improving the data analytics-based lending platform. The funding will also help in boosting the balance sheet and thereby widen the client base.
Avendus Capital was the sole financial advisor in this deal. This funding round comes in less than 10 months since it has raised $15.9 Mn in its Series A funding from existing investor US-based Creation Investments. After the Series B round, the total funding raised by the debt lender comes to $100 Mn.
Founded by Kumar and Sukumar in 2017, Vivriti Capital is a registered non-banking financial company (NBFC). Besides investing in startups, Vivriti also operates a proprietary enterprise debt and value discovery platform CredAvenue. CredAvenue platform connects startups with investors, for fundraising through the issue of debentures. The platform currently has over 250 debt issuers and more than 120 investors. Additionally, the company also has an alternative investment fund (AIF).
The platform also offers credit underwriting solutions, analytical models, structuring solutions, and automated execution workflows. Vivriti claims to have facilitated deal flows of over INR 25,000 Cr. It also claims to have registered over 2000 users on the CredAvenue platform. Major banks, non-banking financial companies (NBFCs), small finance banks (SFBs), mutual fund houses, development banks, and family offices use Vivriti’s CredAvenue platform.
Vivriti has invested or facilitated fundraising for many lending fintech startups in India. In January 2020, Vivriti had invested in the Bengaluru-based fintech startup MoneyTap’s INR 500 Cr ($70 Mn) debt and equity funding round. In July 2019, the debt management platform had helped Gurugram-based digital lending company Aye Finance to raise INR 55 Cr ($7.99 Mn) in debt funding from DCB Bank through a securitisation deal. Previously, it had also helped Aye Finance to raise $3.8 Mn (INR 25 Cr) from three investors, including Hinduja Leyland Finance and IntelleGrow.