Vayana Network raises 283 crore in series C funding

Vayana Network has raised Rs.283 crore in Series C funding round led by participation from existing and new investors, including Chiratae Ventures, CDC group, Jungle Ventures, March Capital, and Marshall Wace.

The company creates supply chain finance programs that help in lowering the credit costs and improving the coverage. Vayana’s compliance business which consists of GST Suvidha Provider (GSP) services holds over 20% market share of the e-invoicing in India.

“We have strongly believed that every segment of the supply chain and for every type of trade, there needs to be a relevant product that allows the business to grow sustainably. Given our strong presence in credit enabling infrastructure such as GST and e-invoicing coupled with the launch of our Good Business Score (GBS), we have managed to reach the smallest of businesses,” Ram Iyer, founder and CEO, Vayana Network said.

The analytics offered by it helps customers to monitor the health of their business. Vayana recently received in-principle approval to set up an ITFS platform at the GIFT City (Gujarat).

“The supply chain industry in India is at a place that requires new-age startups, like Vayana, that build key financial infrastructure for all stakeholders to easily operate with transparency and fluidity,” Amit Rajpal, CEO Asia, Marshall Wace, said.

An ecosystem where financing is embedded in a transaction and becomes an almost invisible part of any B2B trade is as simple as swiping a credit card, the company said in a statement.