Financial products marketplace Vivriti Capital to raise Rs 700 crore

To capitalise on non-banking finance company (NBFC), Financial products marketplace Vivriti Capital is in discussions with multiple private equity players to raise around Rs 700 crore in the next few months.

Speaking about raising investment Vivriti Capital founder and director Gaurav Kumar said that the amount may seem unprecedented for a start-up in its first round but we need to invest in technology and team to stay ahead.

Vivriti Capital was incorporated in June with a aim to Vivriti Capital aims to become the largest marketplace of debt financing products for corporates, small and medium enterprises (SMEs) and individuals in the next 5-7 years, added Kumar to ET. Kumar is former chief business officer at financial services firm IFMR Capital.

The firm is planing to bring on board nine members for the second-line managerial team soon. However, Kumar did not share any names but said some of the senior recruits are from large banks and technology department of ecommerce companies.

While the company is a marketplace of financial products with a gamut of lenders and capital market investors, including banks, NBFCs, mutual funds and insurance companies, Vivriti Capital will also be one of the lenders on the platform.

Our firm is not just aggregators but also a lender because I strongly believe that a company needs to have an incentive alignment. Efficient access to finance is still not available, said Kumar.