India Debt Platform CredAvenue Completes $90 Million Series A Equity Funding Round

September 29, 2021 6:12 PM EDT

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CHENNAI, India, Sept. 29, 2021 /PRNewswire/ -- CredAvenue, a technology-led debt platform linking lenders and businesses in India, has completed a US$90 million Series A equity funding round, with 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 enterprises and individuals that lack efficient access to financial services in India. Following this funding round, VCPL will continue to own a 58.5% majority stake in CredAvenue. Vivitri is majority owned by Chicago-based Creation Investments.

Headquartered in Chennai, India, CredAvenue has built a streamlined credit marketplace linking over 500 Indian lenders and more than 1,000 enterprises. The firm provides due diligence, deal execution, risk management and portfolio monitoring solutions and locates non-bank finance companies that meet lending criteria.

Investors in the Series A round of financing include:

  • Sequoia Growth Investments
  • Lightspeed India Partners III
  • TVS Shriram Growth Fund III
  • Lightstone Global Fund
  • CRED

"Our latest funding is a vote of confidence in our business model from some of the savviest investors in India," said 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 excited to see our investment in Vivitri and its subsidiary CredAvenue making a difference for those at the bottom of the economic pyramid in India," said Patrick Fisher, Creation Investments' managing partner.

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 Indian population in areas such as microlending, affordable housing, vehicle loans, small- and medium-enterprise lending (SMEs), and education finance.

About CredAvenue CredAvenue is an online debt platform owned and operated by CredAvenue Private Limited (CAPL), a subsidiary of Vivriti Capital. Incorporated in 2017, the platform has facilitated over INR 55,000 crores of debt and has a network of over 150+ lenders and 800+ financial institution corporate borrowers. It has specialized sub platforms for pool transactions, loans, bonds, fulfilment, analytics, and risk management solutions. For more information, please visit www.vivriticapital.com and www.credavenue.com.

Media ContactsSarah Lazarus   CL-Media Relations, LLCM: +1 617-335-7823sarah@cl-media.com

Richard ChimbergCL-Media Relations, LLCM: +1 617-312-4281rich@cl-media.com 

Cision View original content:https://www.prnewswire.com/news-releases/india-debt-platform-credavenue-completes-90-million-series-a-equity-funding-round-301388300.html

SOURCE Creation Investments



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