Creation Investments injects $16m more in Indian lending startup Vivriti 

Photo: Reuters

By Pramugdha Mamgain

March 13, 2019

Vivriti Capital, an online platform for institutional debt in India, has raised Rs 110 crore (about $16 million) in equity in a fresh round of funding from its existing investor Creation Investments, per an announcement.

The investment comes little over two months after the Chennai-based company had raised Rs 200 crore from the US-based investor in December 2018.

With the current equity infusion, Vivriti’s overall capital stands at approximately Rs 320 crore, the statement added.

The company plans to use the funds to scale its business and strengthen its marketplace platform, which provides sourcing, credit, distribution, price discovery, transaction execution, and post deal risk assessment support to issuers and investors.

“The platform currently has over 200+ clients and 120+ investors, and we offer a host of products such as securitisation, NCDs, direct assignments, term loans, CDs, and CPs among others. We have also recently launched the credit engine for enterprise finance. We expect a quantum jump in the participants on the marketplace in the coming year,” Gaurav Kumar, founder, Vivriti Capital, said.

Founded in 2017 by Gaurav Kumar and Vineet Sukumar, Vivriti had received the Reserve Bank of India’s approval to float a non-banking finance company (NBFC) in January last year. The platform claims to have facilitated transactions of over Rs 12,000 crore.

The Indian fintech and financial services sectors continue to draw investors’ attention.

Earlier this month, Mumbai-based online lending startup SMEcorner raised about $12.6 million (Rs 90 crore) in a fresh round of funding led by Quona Capital. In another deal, ICICI Bank said it will acquire a 9.9 per cent stake in non-banking finance company Kisan Finance for a cash consideration of Rs 17.82 crore. This month, Jai Kisan also announced raising $1.5 million in a seed round of funding led by Blume Ventures.

In November, Kogta Financial (India) Ltd, a retail-focused non banking financial company (NBFC), closed an equity funding round of Rs 154 crores ($21.6 million) led by a fund managed by Morgan Stanley Private Equity Asia and existing investor IIFL Seed Ventures.

Also Read:

Indian lending startup SMEcorner bags $12.6m led by Quona Capital

India: Lending platform Kissht raises $30m from Vertex Ventures, Sistema Asia fund

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW