Vivriti Capital Bags INR 100 Cr From Existing Investor Creation Investment

SUMMARY

Earlier, the company has raised $50 Mn in its Series B funding from LGT Lightstone Aspada

The funding will help new platforms that were launched specifically for co-lending and supply chain management and financing

Vivriti also runs a proprietary enterprise debt and value discovery platform CredAvenue

Chennai-based online enterprise debt platform Vivriti Capital has raised INR 100 Cr (about $14Mn) funding from existing investor Creation Investment.

Earlier, the company has raised $50 Mn in its Series B funding from LGT Lightstone’s India focussed investment platform LGT Lightstone Aspada. This takes the company’s total equity funding to INR 760 Cr ($105 Mn) since its inception.

Founded in 2017 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 help new platforms that were launched specifically for co-lending and supply chain management and financing.

“We will also invest more into our asset management business to set up and launch unique funds spanning the BBB to AAA fixed-income universe,” said founders Gaurav Kumar and Vineet Sukumar said in a statement.

Vivriti also runs a proprietary enterprise debt and value discovery platform CredAvenue which 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).

Earlier, the company 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.

“Vivriti is uniquely placed in the Indian ecosystem as a lender and facilitator of debt in the impact space with their unparalleled technology platform, strong management team and comprehensive product offerings,” said Tyler Day, Director, Creation Investments Capital Management.