Rivigo raises Rs 25 crore debt fund from Trifecta

January 7, 2020: Logistics tech unicorn Rivigo has raised Rs 25 crore of debt fund from venture lending company Trifecta Capital according to regulatory filings with the Ministry of Corporate Affairs.

Rivigo has issued Series B NCD (non-convertible debentures) to Trifecta worth Rs 10,00,00 each to raise Rs 25 crore. The NCD shall have a tenure of 24 months and will carry a fixed rate of 14.25% paid monthly, reports Entrackr.

The Gurugram based company is also planning to raise 20 million in its Series F round. This is the third debt financing of the company with over 200,000 verified fleet owners, 70 pit stops and offers delivery services across India to retail, e-commerce, pharmaceutical, automobile and FMCG companies, claims to cover 4,000 cities and has network coverage close to 30,000 pin codes.

Started in 2014 by McKinsey alumnus Deepak Garg and Gazal Kalra, Rivigo has so far raised multiple rounds of funding to strengthen its technology and network coverage and build its patented relay-trucking network, which has been a game-changer for the logistics market in India.