Disbursed USD 1 billion in last 7 months amidst pandemic
Eyes USD 10 billion by end of 2022
Bangalore, November 6, 2020: Vayana Network, India's largest 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 had clocked USD 4 billion earlier this year. The company works with over 300 corporates and 20,000 MSME businesses financing the entire network - suppliers, dealers and retailers.
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.
Ram Iyer, Founder and CEO, Vayana Network said, "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. As 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, EwayBill & eInvoicing compliance for lakhs of taxpayers and is one of the largest GSPs authorized by the GSTN.
About Vayana Network:
Vayana Network is India's largest supply chain finance platform having enabled over USD 5 Billion (37,000 crores) in trade finance for 300 supply chains in 25 different industries. The company connects Corporates and their trade ecosystems to provide digital, convenient and affordable access to credit for their payables and receivables. With its proprietary technology Vayana has processed over 1.7 million transactions and offers a zero-change experience to customers. The Network today spans across 600 cities and 1150+ pin codes in India and also extends to 20 countries across the globe. The company is increasingly catering to the smallest of MSMEs in the long tail of the supply chains.
Vayana is also boosting trade through its eInvoicing and ewaybill solutions. As one of India's largest GSPs (GST Suvidha Provider), Vayana is enabling hundreds of Corporates and Institutions and lacs of MSMEs in their GST, EwayBill and eInvoicing compliance. With a zero downtime track-record since GST inception the company has been a go-to partner for the industry.
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