[the_ad id="83613"]
vivriti

CredAvenue’s founders company Vivriti Capital raises $55 Mn in Series C

vivriti

Mid-market lending company Vivriti Capital has raised $55 million in Series C funding from Lightrock India and Creation Investments. The Chennai-based firm has raised $50 million in its Series B round from Lightrock in March 2020.

With this latest round of funding, Vivriti Capital has cumulatively raised $ 165 million since its inception. 

The funds will be used for business expansion as well as technology for acquisitions, product delivery and portfolio management, said Vivriti in a press release. A portion of the funds will also go to its subsidiary, Vivriti Asset Management, to build the leading global asset management platform focused on performing credits.

Founded by Gaurav Kumar and Vineet Sukumar in 2017, Vivriti is a non-deposit taking NBFC and it lends out of its balance sheet. According to the company, both these entities have already established leadership positions with $700 million in Assets Under Management and commitments and debt lines from top ten banks in India, as well as leading international debt investors.

The company further intends to become the largest mid-market debt lender in India with assets of more than $5 billion over the next four to five years. 

Vivriti had recorded close to 65% surge in its revenue to Rs 244.12 crore in FY20 from Rs 148.43 crore in the previous fiscal year. The company also saw a 50% jump in its profit to Rs 14.42 crore in the last fiscal.

It’s worth mentioning that the duo also co-founded online debt platform CredAvenue. The company recently turned unicorn following a $137 million Series B round. As per Fintrackr’s estimates, Vivriti owned 58% stake in CredAvenue during its Series A round. The company has more than 2,300 corporates, 750 lenders on its platform and has facilitated debt volumes of over Rs 90,000 crore.

About Author

Entrackr is a new age media platform for entrepreneurs, startups and technology enthusiast Read More >

©️ All rights reserved Bareback Media Pvt. Ltd.

Send Suggestions or Tips