HomeInsightFunding Alert Vivriti Capital raises $55 mn in Series C round

[Funding alert] Vivriti Capital raises $55 mn in Series C round

 Vivriti Capital
Vivriti Capital

Non-bank lender Vivriti Capital Pvt. Ltd has raised $55 mn (around Rs 400 crore) in Series C funding round from existing investors Lightrock India and Chicago-based Creation Investments.

The Chennai-based firm took the total funding since its inception to $165 million (approximately Rs 1,254 crore).

The firm will use the funds to expand its business and technology footprints, hire new talents as well as step-up product supply and portfolio management.

The lender will partially disburse the fresh money to its asset arm Vivritti Asset Management to accelerate its operations. On Wednesday, the asset management arm also marked the final closing of its second debt fund about $46 million.

“We are extremely thrilled to conclude a raise with the support of Lightrock and Creation Investments. The equity capital will give us sufficient firepower to scale across domestic and international markets”, said Vineet Sukumar, Founder and CEO, Vivriti Capital and Vivriti Asset Management.

Lightrock and Creation backed Vivriti Capital has raised Series B round in two tranches with $100 million in March 2020 and $13.6 million in September 2020 from Lightrock (then called LGT LightstoneAspada).

Chennai-based firm Vivriti Capital was founded in 2017 by Vineet Sukumar and Gaurav Kumar, it provides debt capital to small and mid-sized companies (SMEs) operating in India.

“Over the last couple of years, Vivriti has emerged as a high scalable yet extraordinarily safe pair of hands for both global investors and Indian financial institutions to invest in fair-price debt in high-impact companies. We are extremely excited to lead this round to further their journey in transforming enterprise finance for SME businesses in India,” said Kartik Srivatsa, Managing Partner at Lightrock India. Vivritti Capital has built a loan portfolio of $472 million over the past five years for more than 300 clients in 26 states.

The company said it is looking to become India’s largest mid-market lender and asset manager over the next five years, up from the current $700 million to $5 billion.

Viestories

RELATED ARTICLES
- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -