Vayana, a trade finance platform, has secured $20.5 million in funding from investors led by Sumitomo Mitsui Banking Corporation (SMBC) Asia Rising Fund to support its strategy of introducing new products.
The new capital will be allocated to the introduction of new products that will improve its trade credit, compliance, and risk management platforms.
Existing investors, including the International Finance Corporation (IFC), Chiratae Ventures, Jungle Ventures, and family offices like Emerald Company and Quantum State Investment Fund, also participated in the Series D funding round.
Vayana offers trade finance to minor enterprises and suppliers in industries including automotive, fast-moving consumer goods (FMCG), and manufacturing. It asserts that it enables the financing of more than $1 billion per month through banks and non-banking financial companies (NBFCs), thereby servicing more than 300,000 enterprises and reaching over 3,000 supply chains in 600 cities throughout India.
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Vayana is also a GST Suvidha Provider (GSP), providing e-way bills, online invoicing solutions, and goods and service tax (GST) to MSMEs and corporates.
The company most recently secured $15 million in funding from PayU, the fintech subsidiary of Dutch multinational Prosus, and the International Finance Corporation (IFC).
About Vayana
Founded in 2009 by Ramaswamy Iyer, Vayana is India’s largest Supply Chain Finance platform offering a range of Trade credit and Trade enablement solutions for all the tiers of Supply Chains. Facilitating the financing of over USD 30 billion with over 3,00,000 + enterprises across 3,000+ supply chains, Vayana is the preferred partner in supply chain finance.
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