Vivifi India Finance Private Limited, a Hyderabad-based Fintech NBFC, has successfully completed its Series B financing round of USD 75 million. This fundraising is structured as a preferential round, combining debt and equity, and represents a significant milestone in the company’s financial base strengthening efforts. The company reported a revenue of Rs. 166 crores in FY23, with a profit after tax (PAT) of more than Rs. 16 crores in the previous fiscal year, and intends to virtually double its revenue this year while disbursing more than Rs. 3,000 crore.
The capital originates from a major leader in Specialty/Alternative Finance in the United States. The funds raised will be critical in advancing Vivifi’s aim to transform financial inclusion through technology-driven credit solutions. It will use its FlexPay and FlexSalary solutions to help provide banking services to underserved populations.
Vivifi has disbursed over ₹1,000 crore to over 5,00,000 consumers in the previous year. The vast majority of these beneficiaries earn less than Rs.30,000 per month and borrow from tier II and III cities in India. Notably, Vivifi has been profitable from its inception.
Vivifi’s founders, Anil Pinapala and Srinath Kompella, have a plethora of experience, including successful earlier exits in digital lending in the United States, which contribute to the organization’s strong basis. Speaking on this occasion, Anil Pinapala, says, “We are very excited to announce the completion of this funding round. This funding not only affirms the strength of our business model but also positions us effectively to meet the ever dynamic demands of our customer base.
Going forward, we want to expand credit accessibility to each and every Indian who needs it. We aim to provide them financial freedom with tailor made credit solutions while providing flexibility on their repayment. With this funding, we are barrelling towards achieving new heights and are hopeful of expanding our customer base to a million users in the next 12-18 months. This infusion of capital is timely as regulatory demands for enhanced capital adequacies in the unsecured lending sector intensify.”
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