BUSINESS

Vivriti Capital raises $30 million from TVS Capital to shut Series C funding 

Cash & Banking


The NBFC is heading in the accurate direction to alter into the glorious skills-enabled mid-market debt lender in India

Vivriti Capital, a Chennai-based totally non-banking finance company (NBFC), on Thursday launched that it has raised an additional $30 million in Series C funding from TVS Shriram Dispute Fund 3, a condominium-grown interior most equity fund managed by TVS Capital. 

Vivriti Capital earlier raised $55 million in the indispensable shut of its Series C funding in March 2022 from reward investors Lightrock and Creation Investments. The funds will be dispensed between Vivriti Capital and its subsidiary Vivriti Asset Administration, which manages closed-ended debt funds investing in mid-sized corporates, the corporate acknowledged in a press squawk. 

Vineet Sukumar, Founder & CEO, Vivriti Capital and Vivriti Asset Administration termed TVS Capital as an especially aligned partner with journey and a lengthy-term commitment to the Indian fintech home. 

‘Phenomenal potential’

“The Indian performing credit ranking home has displayed immense potential, especially in the months following the pandemic. The most in sort spherical of funding will allow us to deepen our engagement with our clients along with make investments in skills and product pattern,” he added. 

Founded in 2017, the Vivriti Neighborhood is heading in the accurate direction to alter into the glorious skills-enabled mid-market debt lender in India with resources of greater than $5 billion over the subsequent four to 5 years. 

“The Indian debt markets are poised to deepen, pushed by the expansion of credit ranking to the financially below-served segments, where Vivriti has thrived via rising its loan book while affirming the highest-in-class asset quality,” acknowledged Gopal Srinivasan, Chairman & Managing Director, TVS Capital. 

“We are gratified to partner with Vineet and Vivriti of their creep to turning into the most successfully liked lender to mid-sized enterprises in India in the lengthy escape years aid,” he added. Avendus Capital was as soon as the extraordinary monetary advisor to Vivriti Capital on this transaction.

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Could well perhaps 12, 2022

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