Vivifi India Finance Private Limited, a Fintech NBFC with headquarters in Hyderabad, has raised $75 million in a Series B funding round. The funding was provided in a preferred round using a combination of debt and equity.
Through its products, FlexPay and FlexSalary, this funding is going to ease the provision of banking services to communities with limited access, as reported by The Economic Times.
“This funding not only affirms the strength of our business model but also positions us effectively to meet the ever-dynamic demands of our customer br,” its founder Anil Pinapala said.
The main goal of VIVIFI’s establishment was to operate as a non-banking finance company (NBFC) in the unsecured retail consumer lending market. On March 31, 2017, the company received its Certificate of Registration as an NBFC-non-deposit-taking loan company.
About Vivifi India
VIVIFI’s vision is to offer Innovative Financial Products to customers across the Credit Spectrum, leveraging Technology and Data Science, with a focus on underserved/unserved customers.