ImpactAlpha, March 29 — Chennai-based Vivriti has deployed $700 million in loans for small and medium-sized enterprises, which account for most of the country’s job creation and economic development.
“Vivriti channels capital to segments underserved by the prevailing financial system in India,” says Tyler Day of Chicago-based Creation Investments, which invested in the Series C round with Lightrock India.
Vivriti is looking to grow its loan book to $5 billion over the next five years. “The equity capital gives us sufficient firepower to scale across domestic and international markets,” said Vivriti’s Vineet Sukumar.
Inclusive fintech in India
Gurgaeon-based small business lender Aye Finance raised nearly $10 million in debt financing from Northern Arc Capital and Triple Jump, which has been an investor since 2018. Aye will use the loan to onlend to the most underserved micro businesses.