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Chennai-based financial services firm Vivriti Capital has raised ₹350 crore ($50 million) in Series B funding from LGT Lightstone Aspada, increasing the total equity raised by the company to $100 million.
This investment from Lightstone will be used to significantly ramp up technology and analytical engine powering the online marketplace and shore up the balance sheet lending of the company, thereby serving many more clients on the company’s platform in the coming year, said Vivriti Capital co-founders Gaurav Kumar and Vineet Sukumar in a joint statement.
LGT Lightstone Aspada is the India-focussed investment platform owned by private equity firm LGT Lightstone. Avendus Capital was the sole financial advisor to the deal. In March 2019, the online enterprise debt platform and lender raised about ₹320 crore in Series A funding from US-based Creation Investments.
Founded by Gaurav Kumar and Vineet Sukumar in 2017, Vivriti owns a proprietary enterprise debt deal and value discovery online platform, CredAvenue. Since inception, CredAvenue has facilitated deal flows of more than ₹25,000 crore. Major banks, NBFCs, SFBs, mutual fund houses, DFIs and family offices are the key participants on the platform.
The platform has more than 250 issuers and 120 investors. Vivriti Capital also has an Alternative Investment Fund (AIF).