Delhi-based Fintech LivFin India Private Limited has raised $2 million venture debt from BlackSoil, a leading NBFC & noteworthy player in the credit space.
Livfin is a Delhi-based fintech NBFC that provides supply chain finance to mid-to-large corporates by setting up programs to lend to their suppliers/vendors and distributors/dealers/retailers through an ‘Anchor’-based financing model and it is operational since January 2018.
LivFin is supported by SAR Group promoters (a conglomerate established in 1988) and has attracted investments from German DFI – DEG. It has disbursed $285+ Mn till date and there have been no write-offs as per them. The company has partnered with 15+ anchors and 200+ end borrowers.
Rahul Chander, LivFin CEO said, “We are delighted to partner with BlackSoil who have validated our processes that leverage technology to distribute credit and look forward to strengthening our relationship further with the years to come.”
The company has raised $35+ Mn in debt from more than 15 lenders till date. According to an official statement, the start-up NBFC plans to disburse $85+ Mn in the financial year 2022-23.
“We are thoroughly impressed with LivFin’s end-to-end tech-enabled underwriting and collection processes supplemented with a unique Anchor-based business model and look forward to supporting them in growing their portfolio”, stated Ankur Bansal, Co-founder of BlackSoil.
