Trade finance startup Vayana Network raises Rs 114 cr to increase trade credit to MSMEs

New Delhi, April 20 (KNN) Trade financing startup Vayana Network today announced it has raised Rs 114 crore as part of its Series C funding from International Finance Corporation (IFC) and PayU.

The company said it plans to use the funds to build products focused on helping MSMEs better manage their working capital and become credit ready.  

Ram Iyer, Founder and CEO, Vayana Network said, “We will continue to build on our leadership role in public trade infrastructure including GST, e-Invoice and e-Way Bill and embedding credit for every business in the supply chain”.

The company will also launch Vayana ITFS (International Trade Finance Services) platform at GIFT City, Gujarat in the current financial year. The platform will enable exporters and importers to access international trade finance facilities at competitive rates, added Iyer.

Vayana Network has already raised Rs 283 crore in its existing round from new and existing investors, including Marshall Wace, March Capital, Chiratae Ventures, CDC group and Jungle Ventures.

Vayana Network was issued licenses last year by the International Financial Services Centres Authority (IFSCA) to support exporters and importers. Established by the government, IFSCA is a unified authority for the development and regulation of financial products, financial services, and financial institutions in India. (KNN Bureau)