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Vayana Network on Wednesday announced it has raised a further ₹114 crore as part of its Series C funding from International Finance Corporation (IFC) and PayU.
“Vayana plans to use the funds to build products focused on helping MSMEs better manage their working capital and become credit ready,” it said in a statement.
As part of its Series C round, the company had already raised ₹283 crore from new and existing investors, including Marshall Wace, March Capital, Chiratae Ventures, CDC group, Jungle Ventures, and well-established family offices in India and abroad.
“While we are set to do more than $ 10 billion of trade financing in India alone this financial year, we are focusing on creating tools and infrastructure to help small businesses manage their working capital efficiently and sourcing trade finance at the most affordable rates,” said Ram Iyer, Founder and CEO, Vayana Network.
The fiscal 2022-23 will see the launch of Vayana ITFS (International Trade Finance Services) platform at GIFT City (Gujarat), which will enable exporters and importers access international trade finance facilities at competitive rates, he further said.
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