Vayana Network completes financing $5 bn; eyes $10 bn by 2022

November 7, 2020: The supply chain financing platform for B2B enterprises, Vayana Network, on Friday announced that it has completed $5 billion of financing on its platform to 25 sectors in 20 countries and eyes to double its existing customer base and disburse $10 billion by the end of 2021.

The Pune-based company had clocked $4 billion earlier this year and has disbursed $1 billion in last 7 months amidst pandemic. The company works with over 300 corporates and 20,000 MSME businesses financing the entire network - suppliers, dealers and retailers.

Ram Iyer, founder and CEO, Vayana Network said, “The last 6 months have been very challenging for corporates and MSMEs during the pandemic and we’ve seen a 50 percent surge in the demand for working capital. The entire supply chain was broken and accessing finance was very difficult. We introduced newer solutions like flow-based financing and backed by our fully digital assessment-to-financing platform, we’ve helped companies retain their business operations to normalcy, by helping them access affordable financing quickly and conveniently. As the economy opens up, we are planning to launch new services like last-mile financing. The milestone of $5 billion aligns with our commitment of achieving $10 billion disbursals by end of 2022.”

In India, Vayana Network has processed 1.7 million transactions till date and has helped finance thousands of MSMEs. Truly driving inclusion, more than 60 percent of the MSMEs come from tier III cities & beyond. As a part of providing flow-based financing Vayana enables GST, e-way bill & e-invoicing compliance for lakhs of taxpayers and is one of the largest GSPs authorized by the GSTN.