Total amount raised
$77.6 Millions
Latest funding date
Location
Vayana Network has successfully raised ₹1,708,000,000 in its latest Series D funding round, with backing from Chiratae Ventures and six other investors. The company offers a range of financial solutions, including supply chain finance, risk assessment, and GST compliance management.
Keep reading to explore the intricacies of Vayana Network's fundraising journey and the investors supporting this innovative platform.
What Is Vayana Network?
Vayana Network, founded in 2016 by H Srikrishnan and Ramaswamy Iyer, is headquartered in Bengaluru, Karnataka, India. The company operates in the finance, financial services, and fintech industries, offering solutions for supply chain finance, credit assessment, GST compliance management, and transaction tracking.
With a small team of 1-10 employees, Vayana Network partners with MasterCard and banks to provide commercial card solutions for payable financing. The company aims to accelerate supply chain growth by providing affordable trade credit, digitally authenticating transactions to reduce risk and costs for financial institutions.
How Much Funding Has Vayana Network Raised?
- Series A
- Amount Raised: $4 million
- Date: July 2017
- Lead Investors: Chiratae Ventures, Jungle Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and scale initial operations.
- Series C
- Amount Raised: ₹2.8 billion
- Date: November 2021
- Lead Investors: Marshall Wace
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance service offerings.
- Series C
- Amount Raised: ₹1.1 billion
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and support growth initiatives.
- Series D
- Amount Raised: $20 million
- Date: July 2024
- Lead Investors: SMBC Asia Rising Fund
- Valuation at Round: $240 million
- Motivation Behind the Round: To continue expanding trade financing operations and enhance technological infrastructure.
Total Amount Raised: $59.4 million
Current Valuation: $240 million
Key Investors
- SMBC Asia Rising Fund
- Details: SMBC Asia Rising Fund is a prominent investment fund focusing on high-growth potential startups in Asia. They led Vayana Network's Series D funding round with an investment of approximately ₹62.6 crore.
- Investment Focus Areas: Finance, technology, infrastructure.
- Notable Investments: Various high-growth companies across Asia, particularly in the finance and technology sectors.
- Chiratae Ventures
- Details: Chiratae Ventures is a venture capital firm that invests in early to growth-stage technology companies in India. They have been a recurring investor in Vayana Network.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Flipkart, Myntra, Lenskart.
- International Finance Corporation (IFC)
- Details: IFC is a member of the World Bank Group, focusing on private sector investments in developing countries. They increased their stake in Vayana Network to 5.66% during the Series D round.
- Investment Focus Areas: Financial inclusion, infrastructure, sustainable development.
- Notable Investments: Numerous companies globally, including financial institutions, infrastructure projects, and technology firms.
- Jungle Ventures
- Details: Jungle Ventures is a venture capital firm that focuses on early to growth-stage companies in Southeast Asia and India. They have previously invested in Vayana Network.
- Investment Focus Areas: Technology, digital sectors.
- Notable Investments: Kredivo, Livspace, Moglix.
- Deep Financial
- Details: Deep Financial is an investment firm that participated in Vayana Network's Series D funding round. Specific details about the firm are limited.
- Investment Focus Areas: Financial technology and related sectors.
- Notable Investments: Not explicitly mentioned.
What's Next for Vayana Network?
Vayana Network stands at the cusp of significant growth opportunities. With the recent Series D funding, the company is poised to expand its trade financing services to more SMEs and corporates, leveraging its extensive network across 600 cities in India and 20 countries globally. The development of the International Trade Finance Services (ITFS) platform at GIFT City further amplifies its potential, promising to streamline cross-border trade financing.
Future fundraising appears promising, with potential additional tranches in the ongoing Series D round and prospects for Series E funding. This financial backing will be crucial as Vayana Network aims to enhance its technological infrastructure and expand its market reach. However, the company must navigate challenges such as increasing competition from other trade finance firms and regulatory hurdles in different markets.
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