Date: April 10, 2019
Vayana Network, India’s largest 3rd party Short-Term Trade Finance (STTF) platform, announced that it has facilitated over Rs.15000 crores in trade finance. Vayana’s digital Network enables businesses and their trade partners get easy, convenient and fair-priced access to financing from Financial Institutions (FIs), such as Banks and NBFCs.
“2018-19 has been a pivotal year for Vayana with a number of key milestones being achieved. We are proud to be empowering Enterprises with our financing programs helping them grow, increase economic activity and ultimately generate new jobs.” Said R N Iyer, Founder & CEO, Vayana Network
“We continue to see strong business momentum and expect to more than double the trade financed on our Network in fiscal 2019-2020. We are committed to making access to small business credit simple and seamless; and look forward to many such milestones in the near future.” added Iyer.
1000s of SMEs from over 270 cities access low- cost financing to meet their working capital needs on Vayana Network. The company has deepened its reach with 50% of the enterprises coming from beyond tier 1 and 2 cities in India reflecting true financial inclusion. The Network funds over 2000 invoices every day and has till date financed over a million transactions across 250 Supply Chains in 20+ industries. Vayana is present in 20 countries and has seen good traction in the US market where it has customers in 26 States. The company plans to further develop a global footprint with its foray into SE Asia and a cross-border play across dedicated corridors.
Vayana Network is an electronic network that connects Corporates and their Supply Chains to enable easy, digital and convenient access to fair-price Short-term Trade Financing of their Payables and Receivables. Our Network has till date enabled Rs.15000+ crores in financing, processed over 1 million transactions and today covers 800+ pin codes in over 270 cities in India across 20 industries, from Manufacturing to E-commerce. As a Govt. authorized GST Suvidha Provider (GSP) in India, Vayana GSP offers end-to-end services to Corporates and SMEs to meet their GST and E-way bill compliance needs. As one of the leading GSPs we serve over 1000 large corporates and some of the largest financial institutions/banks, in addition to other third-party Application Service Providers (ASPs) that have over 200,000 SMEs routing their API traffic through us. Vayana Network also provides ASP services under the brand name SahiGST – a simple and easy to use software for GST return filing.
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