IDG Ventures, Jungle Ventures backed Vayana Network allows $1 bn in Trade Funding

IDG Ventures, Jungle Ventures backed Vayana Network allows $1 bn in Trade Funding

Vayana Network, India’s most significant 3rd party Small-Phrase Trade Finance (STTF) system, nowadays introduced crossing the USD 1 billion mark of trade financing on its community.  Vayana’s simple, cloud-centered Network allows firms and their trade partners get uncomplicated, electronic and fast entry to financing from Economical Institutions (FIs), this sort of as Banking institutions and NBFCs, at much better than industry costs.

Vayana has facilitated short term trade financing of Rs. 1,800cr. ($260M) in Q1FY19 which is five times extra than Q1FY18 and 106% extra than the former quarter which is historically the strongest or the most significant quarter. With a lot extra trade financing programs envisioned to go dwell in this and next quarters, Vayana is on keep track of to extra than double in FY19 the $ 1 billion facilitated until date.

In India, the Network has processed 650k+ transactions until date and has assisted finance a thousand+ MSMEs in with extra than forty five% of them from past tier 2 cities. Consumers are spread across a hundred and fifty+ cities across the nation.

Key marketplaces outside the house India include things like SE Asia and US where by Vayana has shoppers in 12 states with their Suppliers found in twenty distinct international locations. Funding on Vayana is centered on legitimate Trade flows and relationships which tends to make the credit history assessment by the lending partners definitely uncomplicated and swift. The company boasts of ninety five% shopper retention with none of the associate FIs reporting NPAs.

Talking on the achievement, Ram Iyer, Founder & CEO of Vayana Network stated, “This is an extraordinary milestone for us as we continue on to exponentially expand the quantity of transactions on our Network. This has been produced achievable owing to the ease, usefulness and pace we have purposefully engineered into our financing programs which has also fueled our business outside the house India.”

“We have swiftly founded ourselves as the industry leader in facilitating small-expense, inconvenience-totally free short-term trade finance for Corporates and their MSME counterparts. This was achievable due to the fact of a sturdy commitment to our shoppers and by remaining accurate to our eyesight to democratize the entry to trade finance for even the smallest of enterprises. We will continue on to make on this foundation and intend adding at the very least five hundred new shoppers this calendar year,” Iyer additional added.

Vayana Network elevated USD four Million from IDG Ventures and Jungle Ventures in June 2017.

Commenting on this milestone, Mr. T C Meenakshisundaram, Founder & Taking care of Director, IDG Ventures India stated, “Vayana’s system has disrupted the conventional landscape enabling the a lot-needed entry to performing capital for the SMEs to enable them expand speedier. Obtaining $ 1 billion run amount in Q1FY19 is a considerable milestone. The possible industry opportunity in India is in extra of $ 125B+ and is envisioned to be the quickest rising section in company financial loans. We imagine that Vayana will redefine and continue on to be a dominant participant in the short-term trade financing industry with the singular eyesight of delivering the most straightforward and best entry to small-expense finance to its shoppers. We are excited to be a section of their journey and will continue on to aid their progress in the a long time to come.”

 “We were impressed with Vayana Network’s innovative focus on fixing a critical obstacle in the trade financing place. The dilemma is universal and the company’s rapid ascend to this milestone is a sturdy validation of their distinctive solution and the encounter of the management crew in this field. We are very pleased to have partnered with them and enable their enlargement into other marketplaces.”, added Amit Anand, Founding Companion, Jungle Ventures.

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