Editorial Team

Vayana Network, India’s largest trade finance network, announced today that it has raised a further INR 114cr as part of its Series C funding from International Finance Corporation (IFC) and PayU, the Payments and Fintech business of Prosus. Vayana plans to use the funds to build products focused on helping MSMEs better manage their working capital and become credit ready.

Vayana Network as part of its Series C round had already raised INR 283cr 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.

Sharing his views, Ram Iyer, Founder and CEO, Vayana Network, said, “To have the backing of global investment firms and financial institutions is a strong endorsement of our commitment to democratise small businesses and making them credit ready. While we are set to do more than USD 10 bn 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. We will continue to build on our leadership role in public trade infrastructure including GST, e-Invoice and e-Way Bill and embedding credit for every business in the supply chain. FY 23 also 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”

“IFC is a leading investor in financial technology, with an extensive portfolio in digital lenders and supply chain finance (SCF) platforms across emerging markets. By supporting the rapid growth of a key player in India’s digital SCF infrastructure, IFC will contribute toward increased data and financial integration, enabling better assessment of risk and provision of tailored financing,” said Wendy Werner, India Country Head at IFC. She added, “As a result, this will expand access to finance for MSMEs deep in supply chains while helping the MSME ecosystem emerge from the COVID-19 crisis on a more resilient footing.”

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