Trade fintech startup Vayana Network raises USD 4M for Series A
Vayana Network
Founders: H. Srikrishnan, Ramaswamy Iyer
Founded in: 2009
Financing status: USD 4 million for Series A round in 2017
B2B trade fintech startup Vayana Network has raised USD 4 million for their Series A round from IDG Ventures India and Jungle Ventures.
Vayana Network was founded in 2009 by H. Srikrishnan, who served as an Executive Director of Yes Bank Limited until 2008, and Ramaswamy Iyer, a former corporate strategist of Fundtech.
Pune-based Vayana Network is a third-party digital platform in the trade financing space in India catering to the entire spectrum of corporates (large, medium, small, micro). It provides solutions for businesses to help manage their working capital and cash flow by enabling their payables and receivables electronically through banks and financial Institutions. Their financing partners include Axis Bank, Corporation Bank, DBS, Federal Bank, Religare, Staragri Finance and Tata Capital.
Vayana claims to have facilitated over USD 400 million of financing with companies for their supply chain from manufacturing to ecommerce. They also claim that they achieved 100% growth in the network over the last 12 months. Besides Pune, Bengaluru and Chennai, Vayana also has offices in the US and Middle East.
The startup will use the newly raised investment to strengthen its B2B trade financing network in India and abroad.
(Top photo from Flickr)