Source: India Education Diary
Bangalore: Vayana Network, India’s largest supply chain financing platform for B2B enterprises today announced that it has crossed over INR 25,000 crores of financing on its platform earlier this year. The company powers over 250 Supply Chains across the globe to facilitate trade financing through its partner financial institutions for Suppliers and Customers of Corporates. The company is driven by its mission to provide easy and digital access to affordable finance for the smallest of MSMEs across all tiers of supply chains – suppliers, dealers and retailers.
The milestone of INR 25,000 crores of loan disbursal comes at a time when supply chain finance providers is increasingly seen as the ultimate solution for unlocking B2B cash flows and currently stands at a potential revenue pool of USD 20 billion globally. Vayana Network crossed INR 10,000 crore mark in FY 2019 while engaging over 150 supply chains. The company, through its proprietary technology platform launched solutions and products to ensure seamless integration and smooth flow of working capital among businesses
Commenting on the accomplishment, Ram Iyer, Founder and CEO of Vayana Network said, “2019 has been a significant year for us. The Indian MSME sector is going through a rapid transformation where the requirements of businesses have changed. They are looking for quicker and easier access to funds. We have been able to bridge the gap between the corporates and their supply chains through a strong financing ecosystem and introducing services like e-Invoicing and Vayana GSP to further support them”
He further adds, “We are delighted to have crossed this milestone in such a short span of time and our vision is to cross USD 5 billion in the coming financial year. We are nearing a run rate of INR 25,000 crores a year. We will continue to grow our leadership in the supply chain financing market with a commitment to make low-cost finance easily accessible to our customers.”
Supply Chain Finance providers is rapidly gaining momentum in India given the support from corporates and the growth aspirations of small and medium enterprises.
In India, Vayana Network has processed 1.5 Million + transactions till date and has helped finance thousands of MSMEs. Truly driving inclusion, more than 45% 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.