Vayana Network, a trade finance platform, has raised Rs 283 crore in a Series C funding round.

The funding round was led by Chiratae Ventures, CDC Group, Jungle Ventures, March Capital, Marshall Wace, and some family offices in India and abroad.

Vayana Network | Easy, Digital And Quick Access To Low-cost Finance

Founded by Ramaswamy Iyer in 2017, Vayana Network is an electronic network that connects SMEs, corporates and their supply chains to financial institutions for easy, quick and low-cost access to trade financing of their payables and receivables. 

The startup not only facilitates access to capital but is working towards making MSMEs credit ready through its GST compliance and analytics business.

Speaking on the development, Ramaswamy Iyer, Founder and CEO of Vayana Network, said,

“We have strongly believed that every segment of the supply chain and for every type of trade, there needs to be a relevant product that allows the business to grow sustainably. Given our strong presence in credit enabling infrastructure such as GST and e-invoicing coupled with the launch of our Good Business Score (GBS), we have managed to reach the smallest of businesses, connecting them to the largest lenders.”

The trade finance platform claims to have facilitated $8 billion in loans to over 22,000 MSMEs for over 1,000 supply chains across 25 different sectors so far. As per the startup, its compliance business holds over 20% of the market share in e-invoicing in India and helps businesses lower their credit costs by over 50%.

Claiming cheap interest rates as its USP, Vayana Network is currently present in the US, Singapore, Thailand, Malaysia, Vietnam, and Indonesia. The startup is also planning to expand to more countries soon.

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