Private Equity

VC Fund Investments

Trade financing startup Vayana Network raises $20-M

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Pune-based trade financing startup Vayana Network has raised INR 170.8 crore (approximately $20.5 million) in its Series D round led by SMBC Asia Rising Fund (a JV of Incubate Fund and Sumitomo Mitsui Banking Corporation or SMBC) at a reported post-money valuation of around INR 1,925 crore (USD 232 million).SMBC Asia Rising Fund invested INR 62.6 crore while Chiratae Ventures and IFC invested INR 41.74 crore and INR 24 crore respectively. Jungle Leaders, Quantum-state investment fund and Emerald invested the balance INR 42.4 crore. The company will issue 14,62,341 series D CCPS at INR 1168.27 each to the investors.Vayana provides digital access to low-cost financing to suppliers and small enterprises in the automotive, fast moving consumer goods (FMCG) and manufacturing industries, among others. It is also a GST Suvidha Provider (GSP), facilitating GST, e-way bill and online invoicing for corporates and MSMEs. For FY23, Vayana had reported INR 115 crore in revenue from operations against INR 43 crore in FY22 while its losses doubled to INR 78 crore.

Between Jul-17 and Apr-22, Vayana had raised over USD 60 M from Chiratae Ventures, British International Investment, Jungle Ventures, Trifecta Capital, March Capital, Marshall Wace, IFC, Others