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Trade Finance Startup Vayana Network Raises $15 Million In Funding

Apr 20, 2022•about 3 years ago

Amount Raised

$15 Million

Bengaluru

Description

Bengaluru: Trade finance platform, Vayana Network has raised Rs 114 crore (or roughly $15 million) as an extension to its ongoing fundraise led by International Finance Corporation (IFC) and PayU, the payments and fintech arm of Dutch multinational, Prosus.

Company Information

Company

Vayana Network

Location

Bengaluru, Karnataka, India

About

The company had last raised Rs 283 crore (or $37 million) in November, last year, from a set of new and existing investors including Marshall Wace, March Capital, Chiratae Ventures, CDC group, Jungle Ventures, among others. With this, the company has closed its current fundraising with a total raise of Rs 397 crore (or roughly $52 million). At present, the startup is disbursing loans through its banking and non-banking finance partners. The company is also aiming to touch annual disbursement volumes of $12 billion by end of FY’23. The company is also looking to provide domestic trade financing to suppliers in the US, which continues to be a large white-space for the company to grow, Iyer said. Founded in 2016 by Ramaswamy Iyer, Vayana Network provides trade finance to suppliers and small enterprises, across industries of automotive, fast moving consumer goods (FMCG), manufacturing among others.

Funding Insights

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