Vivriti Capital, a Chennai, India-based tech-enabled credit investment platform serving institutional and retail markets, raised $55m in Series C funding.
Backers included Creation Investments Capital Management and Lightrock India.
The company, which has raised US$165m since inception, intends to use the funds for business expansion as well as technology for acquisitions, product delivery and portfolio management. Part of the funds will go to its subsidiary, Vivriti Asset Management, to build a global asset management platform focused on performing credits.
Led by Vineet Sukumar, founder & CEO, Vivriti Capital and Vivriti Asset Management, Vivriti Capital is a fintech NBFC that aims to bring necessary debt finance to hundreds of mid-market enterprises across India. Over the past five years, the firm has built a franchise, with INR 3,700 crores of portfolio, as well as 300+ clients across 30+ sectors and 26 states. It now plans to become the largest technology-enabled mid-market debt lender in India, with a goal to expand its client asset base to more than US$5 billion over the next five years from US$700 million now.