India-based online debt startup, Vivriti Capital, has secured $50 million in Series B funding led by Banglore based venture firm LGT Lightstone Aspada. With this funding, Vivriti Capital is planning to enhance its technology and update its analytical tools, which are used to power its online marketplace.
Earlier this funding, Vivriti has bagged Series A funding from the US-based Creation Investments. With this latest funding, the firm has touched the whooping mark of $100 million. For the newest deal, Avendus Capital, an advisory firm, served as the Vivriti's financial advisor.
On this occasion, Vivriti Capital founder's said, they are delighted to invite Lightstone Aspada as an investor at this crucial stage of their journey. Vivriti has achieved immense growth in the last one year, as they escalated their debt products and Vivriti did a business of $250 billion in the entire debt flow.
Gaurav Kumar and Vineet Sukumar founded Vivriti Capital in 2017 with the aim of helping debt issuers to find suitable investors. For small businesses and corporations, Vivriti operates an online marketplace known as CredAvenue, which serves more than 2000 users. To date, CredAvenue has lent nearly $250 billion.
Vivriti's platform provides automated execution workflows, credit underwriting solutions, analytical models, and structuring solutions. Non-banking financial institutions, small finance banks, large banks, mutual funds, development financial institutions, and family offices are among its customers. For March 2020, Vivriti has planned to raise nearly $4 billion from several private equity funds to strengthen the balance sheet lending of the firm. It will further help the firm in serving many more clients on its platform in the coming year.
LGT Lightstone Aspada MD Kartik Srivatsa said, they have keenly tracked Vivriti Capital's growth from the past few years. They firmly believe that the blend of Vivriti's tech platform and product development abilities will bring crucial innovation in the sector for widening the supply of 'rightly priced' loans to high impact businesses.
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