[Funding News] Vayana Network Secures $20 Mn in Series D Funding Round

Vayana Network, a trade financing startup, has successfully completed its Series D round, which successfully raised Rs 170.8 crore (approximately $20.5 million). Pune-based organization's inaugural investment round of 2024.

A special resolution has been passed by the board of Vayana Network to issue 14,62,341 series D CCPS at an issue price of Rs 1168.27 each in order to raise Rs 170.8 crore or $20.5 million.

SMBC Asia Rising Fund was the leader of the round, contributing Rs 62.6 crore. Chiratae and IFC (International Finance Corporation) contributed Rs 41.74 crore and Rs 24 crore, respectively.

Read also - KheloMore Secures $2 Mn in Pre-Series A Funding Round

This funding appears to be the final tranche of its ongoing Series D round, and it may raise additional capital. According to the filings, Vayana Network intends to allocate these funds towards expansion and general corporate objectives.

Vayana Network offers digital access to low-cost financing to small enterprises and suppliers in the automotive, fast-moving consumer goods (FMCG), and manufacturing industries, among other sectors. It is also a GST Suvidha Provider (GSP), which enables corporates and MSMEs to utilize online invoicing, e-way bills, and GST.

About Vayana Network

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.

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