CHENNAI from India, September 29, 2021 / PRNewswire / – CredAvenue, a technology-driven debt platform connecting lenders and businesses in India, completed a US $ 90 million Series A equity financing round, featuring capital from several leading investors in the Indian financial market.
CredAvenue is a subsidiary of Vivriti Capital Private Limited (VCPL), which connects institutions, investors, small businesses and individuals who do not have effective access to financial services in India. At the end of this round of funding, VCPL will retain a majority stake of 58.5% in CredAvenue. Vivitri is majority owned by ChicagoCreation based investments.
Based at Chennai, India, CredAvenue has built a streamlined credit market connecting over 500 Indian lenders and over 1,000 businesses. The company provides due diligence, transaction execution, risk management and portfolio monitoring solutions and locates non-bank finance companies that meet lending criteria.
Investors in the Series A funding round include:
- Sequoia growth investments
- Lightspeed India III Partners
- TVS Shriram III Growth Fund
- Lightstone Global Fund
“Our latest funding is a vote of confidence in our business model from some of the smartest investors in India,” noted Gaurav Kumar, CEO of CredAvenue. “The additional capital allows us to expand our debt platform to meet the needs of many more people here.”
“We are very happy to see our investment in Vivitri and its subsidiary CredAvenue making a difference for those at the bottom of the economic pyramid in India,” noted Patrick fisher, managing partner of Creation Investments.
Creation Investments Capital Management LLC, a global alternative asset manager and leading impact investor in emerging markets, is an equity investor in Vivriti Capital. Earlier this year, Creation partnered with CredAvenue to provide debt capital to three non-bank financial companies serving the people of India in areas such as microcredit, affordable housing, auto loans, loans to small and medium-sized enterprises (SMEs) and education finance.
CredAvenue is an online debt platform owned and operated by CredAvenue Private Limited (CAPL), a subsidiary of Vivriti Capital. Incorporated in 2017, the platform facilitated more INR 55,000 crores debt and has a network of more than 150 lenders and more than 800 borrowing financial institutions. It has specialized sub-platforms for pool transactions, loans, bonds, execution, analysis, and risk management solutions. For more information, please visit www.vivriticapital.com and www.credavenue.com.
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SOURCE Creation Investments