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.
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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.”
Also read: How a British Trade Finance Company helped an Indian Exporter to Increase Sales by 50%
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.
