Debt

Debt financing

Lender to underserved communities Vivifi raises $75-M in debt & equity

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Hyderabad-based fintech NBFC ?(non-banking financial company) Vivifi Finance has raised USD 74 million in debt and equity funding from a large US-based investor.It will use the fresh funds to expand its workforce to over 2,000 employees in the next 12-18 months, from its existing 800, as well as set up offices across tier II and tier III cities, especially in Telangana and Andhra Pradesh.Vivifi, founded in 2016, provides credit access to underserved communities via small loans. The company claims it has disbursed INR 1,000 crore to more than five lakh customers in the past year, and aims to lend INR 3,000 crore this year.