Financial services firm Vivriti Capital Wednesday said it has raised $50 million (about ₹350 crore) in Series B funding from LGT Lightstone Aspada.
Vivriti Capital runs an online marketplace for mid-market corporates to raise debt, while LGT Lightstone Aspada is the India-focused impact investment platform of private equity firm LGT Lightstone.
“The fresh capital will be used for scaling up our own balance sheet and to further build out our online enterprise debt platform, CredAvenue. The product suite and analytical engine will be significantly ramped up, in line with the scale and usage that we envisage,” Gaurav Kumar, co-founder and managing director said over the phone.
“We are planning to double our technology and data science teams, which will cross 100 employees by this financial year. On the scaling up of our balance sheet, our focus will continue to remain on financial services and enterprise finance, and beyond financial services we will focus on consumer-facing sectors like food and beverages, healthcare and pharmaceuticals,” he added.
Founded by Kumar and Vineet Sukumar in 2017, Vivriti is registered with the Reserve Bank of India as a regulated, non-deposit-taking, non-banking financial companies (NBFC). -It owns the proprietary enterprise debt deal and value discovery online platform CredAvenue, which connects lenders and investors such as banks, mutual funds, NBFCs, development financiers and family offices to a client base of financial institutions, corporates and enterprises.
