IFC to invest in CDC-backed trade finance company Chiratae Vayana

in supply chain finance platform Vayana Network Services Pvt Ltd.


The investment will help Vayana strengthen its operations across the technology network to offer supply chain finance solutions, IFC said.

It comes just months after Vayana raised Rs 283 crore in a Series C funding round led by venture capital firm Chiratae Ventures and UK development finance institution (DFI) and investor from CDC Group impact in November of last year.

Jungle Ventures, March Capital, Marshall Wace and some large Indian and foreign family offices also participated in the roundtable.

The company deals with small, micro, small and medium enterprises (MSMEs) in the long tail of supply chains. It also claims to be one of the largest Goods and Services Tax (GST) providers in the country and facilitates GST, electronic invoices and electronic invoices for many businesses and SMEs. Vayana added that her network spans 600 Indian cities.

In November of last year, Vayana claimed to have funded more than $ 8 billion, including more than $ 1 billion in funding, through business-to-business (B2B) card flows to over 22,000 MSMEs for more than 1 billion. 000 supply chains in 25 different sectors.

IFC has an active LP (Limited Partner) portfolio in India. It also makes direct private equity (PE) investments and also lends to businesses.

It connects more than 1,000 businesses and their business ecosystems to the digital arena and provides affordable access to credit for their debts and receivables, the company added.

In India, IFC’s commitments for the fiscal year ending June 2021 were $ 1.7 billion, or 51 percent from a year ago. India, as a country, is IFC’s largest customer in the world.

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