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Digital Lending startup Vivriti capital raises $50Mn in series B round from LGT Lightstone Aspada

Digital enterprise lender Vivriti Capital disclosed that it has secured $50 million as a part of its Series B funding round that was led by the LGT Lightstone Aspada.

Digital enterprise lender Vivriti Capital disclosed that it has secured $50 million as a part of its Series B funding round that was led by the LGT Lightstone Aspada.

The most recent round comes within the ten months of the startup securing $50 million from the US-based Creation Investments raised across the two tranches between the months December 2018 and March 2019.

The capital will be utilized for scaling up the startup balanced sheet and raise more debt. Moreover another part of the investment will be used to further expand and enhance its technology and data science functions.

Speaking on the fund-raise, co-founders Gaurav Kumar and Vineet Sukumar, stated they are very pleased to bring Lightstone Aspada on board as an investor at this key phase of their journey. Also they have achieved tremendous growth in the last one year.

They’ve seen significant scale across debt products and the business volumes crossed Rs 25,000 crore in overall debt flow. This investment from Lightstone will now be utilized  to significantly ramp up the technology and analytical engine powering the online marketplace, and to raise the balance sheet lending of the company, thereby serving many more clients on the platform in the coming year.

Currently, Vivriti Capital lends across three lines of business through its affiliate platforms – its B2B financial services business which has around 270 clients including NBFCs and housing finance companies; its B2C enterprise business, and its B2C co-lending platform, which already has reached a loan size of Rs 500 crore since the time of its launch this year.

Moving ahead the startup claims that it turned profitable, registering Rs 2 crore in profits as of FY19. Also It expects to make profits of Rs 11 crore by the end of December 2020.  

And it also plans to take total credit deployed through its marketplace CredAvenue to Rs 30,000 crore by the end of FY20 and Rs 50,000 crore by FY21.  

-Authored by Farheen Malik (Content Developer, Startup-Monk)

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CIN- U74999DL2019PTC347107