An exciting fintech startup announced a funding of USD 55 million 

An exciting fintech startup announced a funding of USD 55 million 

A fintech startup has raised funds in a new round of funding. What an exciting piece of news it is. 

Let us talk about the fintech industry and what is happening. The fintech industry in a simple layman’s language can be explained by this equation as finance + technology. It is one of the two industries which saw a steep rise during the lockdown imposed by the pandemic COVID 19. The other sector is edtech.

The fintech industry saw the inauguration and launch of the technology in the traditional field of finance. This industry is engaged in changing the image of the old industry by introducing automatic and straightforward methods which earlier consumed a lot of person-hours and sometimes days even. 

How is FinTech Changing the Financial Services Industry? | The ITC Blog

Our country has more than 40000 mid-capital enterprises that are responsible for less than 15% of the loan market. The enterprises belonging to the mid-market sector are in charge of the debt outstanding of more than INR 10 lakh crore. Currently, lenders belonging to the private sector is accounted for less than 30% of the mid-market debt which is outstanding. 

Let us now talk about the funding of a fintech startup that has taken place recently and the news has spread far and wide. Recently, a fintech startup Junio, on March 04, 2022, had announced a round of funding worth USD 6 million with the main investor being NB Ventures of UAE.

Then on March 24, 2022, another fintech startup Credilio had raised USD 4 million in a pre-Series A round of funding. That round of funding saw the participation of investors like Cornerstone Venture Partners, Exfinity Venture Partners, and the founder of Param Capital, Mukul Agarwal. 

Fintech startup Credilio raises $ 4 million - Times of India

Announcement of funding of a fintech startup 

The fintech startup, Vivriti Capital has raised funds worth USD 55 million, which is almost equal to INR 400 crore, as declared on March 28, 2022. This round of funding has occurred and saw the participation of the existing investors of the startup, who were Light rock India and Creation Investments. The role of advisor in this round of funding was played by Avendus Capital. 

Vivriti Capital Raises $55 Million Funding - Equitypandit

The startup plans to use the funds raised in this round of funding in expanding the business and technology which will further help the startup in the acquisition, delivery of the product, and portfolio management. The startup also plans to divert an amount of the funds raised to the subsidiary of the startup which is Vivriti Asset Management. Here the funds will be allocated to expand the platform of asset management, which has its focuses on performing credits.

The total funds raised by the startup after this round of funding have come up to USD 165 million. The existing investors, Light rock India, and Creation Investments also took part in the past rounds of financing, which were Series A and Series B rounds of funding. 

About the fintech startup that has announced its funding 

The fintech startup, Vivriti Capital was founded in the year 2017 by Gaurav Kumar and Vineet Sukumar and has its headquarters in Chennai, Tamil Nadu. The startup claims itself to be the one true North for Fiscal Welfare. The mission of the startup is to continuously better the lives of all its clients through customized financial solutions. The vision of the startup is to become the no 1 technology-enabled platform for credit in India with a cumulative deal flow of INR 100000 crore by FY 2023 across institutional and retail segments. 

CredAvenue's founders company Vivriti Capital raises $55 Mn in Series C

The startup has been formed to create the largest and most valuable platform for financial services serving a client base of financial institutions, corporates, small enterprises, and individuals that lack efficient access to financial services. The founding team of the startup has pledged to make Vivriti Capital a one-stop-shop for all the debt requirements of its target clients.

The startup takes the help of data analytics and the technology team determines the needs of the clients and designs an appropriate product at the doorstep of the client. The provider of the product emerges from the most suitable bid on the platform. The fintech startup has a strong digital spine that will help in customer sourcing, underwriting, customizing, and offering products at the fingertips of the clients.  

Lending Tech Startup Vivriti Capital Raises US$50M Series B - Jumpstart Magazine

The startup is registered with RBI as a regulated, non-deposit-taking, non-banking financial corporation. The founders of the startup aim to significantly capitalize on the firm in order to enable the right liability structure and ability to offer products across the risk spectrum to its clients. 

About Light rock India 

Founded in the year 2021, Light rock India is a private equity partnership that looks to achieve financial as well as societal, and environmental returns. It makes an investment between USD 10 million and USD 50 million in a company. It also has the flexibility to invest more in situations that offer a competing fit to the investment thesis and mission of Light Rock. 


About Creation Investments 

Founded in the year 2007, Creation Investments is a global alternative investment manager and leading impact investor with a focus on financial services and financial inclusion for the un/underbanked. It is private equity that has an experienced team, deep domain expertise, and is driven by values. It is a private credit having expertise in the field of credit, direct loan exposure, and mapped to impact themes. 

Creation Investments opens Mexican office |

Creation Investments strive to build diversified portfolios to maximize returns and impacts. The portfolio of Creation Investments consists of companies like AVLA, Capital Float, Commercial Credit, Cred Avenue, NOA We Finance, Muthoot Finance, RESHA MANDI, VASTU Housing Finance, Sofo Plus, Vivriti Capital, and many others. The subsidiaries of Creation Investments are Creation Investment Sri Lanka, LLC, Creation Investment Fusion, Llc. 

Home - Creation Investments

About Avendus Capital 

Founded in the year 1999 and having its headquarters in Mumbai, Maharashtra, Avendus Capital is a leading provider of financial services and emphasizes creating solutions that are customizable in the domains of asset management, credit solutions, investment banking, and wealth management. It gives its support to high-performing entrepreneurs, wealth creators, and pioneers of the new age economy in their quest to outperform. 

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Avendus Capital is present in eleven cities across four countries and thus brings a global perspective and thought leadership to the table, and makes sure to use the inter-country teams which have the experience and knowledge to handle large and complex transactions. Summarising Avendus Capital brings together ideas, innovation, and people to help high-performing entrepreneurs achieve their dreams. 

What has been said about the agreement of funding a fintech startup?

The founder and CEO of the startup, Vineet Sukumar made a statement saying that the startup has explored an untapped opportunity in the mid-sized market and there is a huge breach in terms of financial requirements of businesses of medium size and resource availability. The startup is working towards the betterment of this situation. 

Vivriti Capital Bags $50 Mn To Facilitate Startups Funding

The startup is doing something noble with the aim to make the lives of its customers and users easy and better. We wish the startup a stroke of good luck and hope it has a prosperous and shining future ahead. 


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