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Chicago-based Creation Investments leads funding for Vivriti Capital
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Non-bank lender Vivriti Capital Pvt Ltd has raised Rs 100 crore ($13.6 million) as part of its Series B funding round.

This exercise has been led by existing backer Creation Investments, Chennai-based Vivriti said in a statement. Founded in 2007, Chicago-based Creation makes bets in the financial services industry.

India is one of its key focus markets, with the investor having begun operations here in 2011. It has so far invested $250 million in the country across 10 companies.

Creation’s latest commitment to Vivriti comes after the lender in March raised $50 million (around Rs 350 crore) as part of its Series B funding round from LGT Lightstone Aspada.

The investment from Creation takes the total equity capital raised by Vivriti to over Rs 760 crore. Company founders Gaurav Kumar and Vineet Sukumar said the funds will be utilised to strengthen technological and analytical capabilities, as well as ramping up platforms focussed on co-lending and the supply chain.

The firm will also make further investments in its asset management business to set up and launch funds that will concentrate on the fixed-income segment.

“The macro-environment in the last six months has brought out the potential of Vivriti's marketplace,” Creation director Tyler Day said.

Founded by Kumar and Sukumar in 2017, Vivriti owns the proprietary enterprise debt deal and value discovery online platform -- CredAvenue. The tech-enabled platform connects debt issuers and investors, offers credit underwriting, analytical models, structuring solutions and automated execution workflows.

Vivriti is a registered non-bank finance company and directly lends from its balance sheet. Besides, it also has an alternative investment fund (AIF).

In March last year, the firm raised Rs 110 crore (around $15.8 million) from Creation. That investment came a little over two months after the US-based impact investor had provided Rs 200 crore in equity funding to Vivriti.

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