Vayana Network, India’s largest trade supply chain financing platform for B2B enterprises announced the completion of the disbursement of $5 billion of financing on its platform till date.
The company reported financing of $4 billion earlier this year. The company works with more than 300 corporates and 20,000 MSME businesses, financing their entire network of suppliers, dealers and retailers.
Vayana Network is planning to multiply its existing customer base by the end of 2021. The Pune-based company has already disbursed more than $ 5 billion till date to across 25 sectors, 20 countries.
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% 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 economy opens up, we are planning to launch new services like last mile financing. The milestone of USD 5 billion aligns with our commitment of achieving USD 10 billion disbursal by end of 2022”
In India, Vayana Network has so far processed 1.7 Millionn transactions and financed thousands of MSMEs. Over 60% of the MSMEs financed by Vayana belong to tier III cities & beyond. As a part of providing flow based financing Vayana enables GST, EwayBill & eInvoicing compliance for lakhs of taxpayers and is one of the largest GSPs authorized by the GSTN.