Brands
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Youtstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

YSTV

ADVERTISEMENT
Advertise with us

Vivriti Capital raises second round of funding of Rs 110 Cr from Creation Investments

The Chennai-based company will use the fresh capital to scale its business, and invest in technology to build the credit engine and deepen its product suite.

Vivriti Capital raises second round of funding of Rs 110 Cr from Creation Investments

Wednesday March 13, 2019 , 2 min Read

Vivriti Capital, a Chennai-based lending platform for corporate entities, secured Rs 110 crore worth of equity in an additional round of funding from its existing investor Creation Investments.


This comes just within two months of the Series A funding closure in December 2018, in which the company raised Rs 200 crore from Creation Investments. With the current equity infusion, Vivriti’s overall capital stands at approximately Rs 320 crore.


The company plans to use the funds to scale the business and strengthen the marketplace platform. Its marketplace provides sourcing, credit, distribution, price discovery, transaction execution, and post deal risk assessment support to issuers and investors on its platform.



Also read: Here’s why California-based Drip Capital is betting big on Indian SMEs



In a statement, Co-founder Gaurav Kumar said,


“The platform currently has over 200+ clients and 120+ investors, and we offer a host of products such as Securitisation, NCDs, Direct Assignments, Term Loans, CDs, and CPs among others. We have also recently launched the credit engine for enterprise finance. We expect a quantum jump in the participants on the marketplace in the coming year.”

 

Started in mid-2017 by Gaurav Kumar and Vineet Sukumar, it received approval from the Reserve Bank of India (RBI) to float a non-banking finance company (NBFC) in January 2018. The central bank had come out with final guidelines in October 2017 for peer-to-peer (P2P) lending platforms, according to which P2P lending companies will be regulated as NBFCs and will come under the purview of the RBI.


The company says it has facilitated transactions of over Rs 12,000 crore on the platform. In January 2019, Vivriti received an A-rating from ICRA for its credit facilities. The company has since started lending from its own books and has built a diversified portfolio across asset classes. 


Co-founder Vineet Sukumar added that Vivriti has opened up several fronts of growth, including the launch of the asset management business, enterprise client business, and the ability of the marketplace to create non-linear growth.


Speaking about the second round of infusion, Ken Vander Weele, Co-Founder and Partner, Creation Investments, said, "The founders have done an amazing job in developing the online market platform, which we believe can be a game changer for the institutional and enterprise lending space in India.”


Also read: Why this SoftBank-funded European ‘unicorn’ is not looking to lend in India