Vivriti Capital has raised $50 million (around Rs 375 crore) in Series B funding from LGT Lightstone Aspada.
This Chennai-based digital lending startup was founded by Gaurav Kumar and Vineet Sukumar in 2017.
As per Gaurav Kumar, the co-founder of Vivriti Capital, the funds will be used for scaling up the company’s balance sheet and to raise more debt. Also, the startup will use this funding to expand its tech team (to 100 members) by next year.
Talking about this funding round and the company’s growth, founders said,
“We are very pleased to bring Lightstone Aspada on board as an investor at this key phase of our journey. We have also achieved tremendous growth in the last 12 months and have seen significant scale across debt products and the business volumes crossed Rs 25,000 crore in overall debt flow.”
Having raised Series A funding from US-based Creation Investments, this latest funding round takes the total funding raised by the startup to $100 million.