Vayana Network, a trade supply chain financing platform for B2B enterprises, today announced that it has completed USD 5 billion of financing on its platform till date.
The company which works with over 300 corporates and 20,000 MSME businesses financing the entire network – suppliers, dealers and retailers had clocked USD 4 billion earlier this year.
Vayana Network is on track to double its existing customer base by the end of 2021. The Pune-based company has disbursed over USD 5 billion till date to across 25 sectors, 20 countries, said the release.
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.”~ Ram Iyer, Founder and CEO, Vayana Network
He added, “As the 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 processed 1.7 Mn transactions till date and has helped finance thousands of MSMEs. Truly driving inclusion, more than 60% of the MSMEs come from tier III cities & beyond. As a part of providing flow-based financing, Vayana enables GST, E-way Bill & E-invoicing compliance for lakhs of tax payers and is one of the largest GSPs authorized by the GSTN.