Vivriti Capital, a Chennai-headquartered non-bank lender, has raised $55 million in a Series C funding round from returning investors Lightrock India and impact investment management company Creation Investments Capital Management.

The NBFC will utilise the raised capital for business expansion and technology development for acquisition, product delivery, and portfolio management.

As per the NBFC, it will also provide a part of the capital to its subsidiary Vivriti Asset Management to build a global asset management platform focused on performing credits.

Vivriti Capital | Customised Financial Solutions

Founded by Gaurav Kumar and Vineet Sukumar in 2017, Vivriti Capital is a tech-enabled marketplace that brings together capital markets investors with institutions, small enterprises and individuals.

Speaking about the development, Vineet Sukumar, Founder and CEO of Vivriti Capital and Vivriti Asset Management, said,

“Throughout the pandemic, we’ve experienced phenomenal growth and considerable scale across debt products. The equity capital will give us sufficient firepower to scale across domestic and international markets.”

Vivriti Capital and its subsidiary Vivriti Asset Management together claim to have $700 million worth in Assets Under Management (AUM) and commitments and debt lines from top ten banks in India and leading international debt investors.

The NBFC also operates CredAvenue, an enterprise debt deal and value discovery platform. Earlier this month, CredAvenue joined the unicorn club with a valuation of $1.3 billion. In February 2022, CredAvenue acquired a 75% stake in the five-year-old Spocto, an artificial intelligence-powered debt recovery platform Spocto Solutions, for Rs 400 crore. 

Commenting on the development, Kartik Srivatsa, Managing Partner, Lightrock India, said,

 “Over the last couple of years, Vivriti has emerged as high-scalable, yet extraordinarily safe pair of hands for both global investors and Indian financial institutions to invest in fair-price debt in high-impact companies. We are extremely excited to lead this round to further their journey in transforming enterprise finance for SME businesses in India.”

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