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Creation Investments pumps more money into Vivriti Capital
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Vivriti Capital Pvt. Ltd, which runs an online platform for institutional debt in India, on Wednesday said that it has raised an additional Rs 110 crore ($15.8 million) from existing investor Creation Investments.

The investment comes a little over two months after the US-based impact investor had provided Rs 200 crore in equity funding to Vivriti Capital.

The Chennai-based company will use the fresh capital to scale its business and invest in technology to build its credit engine and deepen its product suite, Vivriti Capital co-founder Gaurav Kumar said in a statement.

Vivriti Capital was founded in June 2017 by Kumar and Vineet Sukumar, both former executives at IFMR Capital, the non-banking financial company (NBFC) floated by the Chennai-based IFMR Group.

Vivriti had received approval from the Reserve Bank of India to float an NBFC in January last year.

Vivriti Capital is a tech-enabled online marketplace that offers customised debt products to institutional clients. The startup offers loans, working capital, structured debt and fixed-income capital market instruments using data analytics and algorithms. It also offers financial advisory services. 

Vivriti Capital currently has over 200 clients, more than 120 investors and has facilitated transactions upwards of Rs 12,000 crore, the statement said.

Co-founder Sukumar said that the team has opened up several fronts of growth, including the launch of the asset management business, enterprise client business, and the ability of the marketplace to create non-linear growth.

Last month, Sukumar had told VCCircle that the company was reaching out to potential domestic and offshore investors amid plans to float an alternative asset platform. A process to register with the Securities and Exchange Board of India (SEBI) was running simultaneously, he added.

“Our engagement with the team and the progress we have seen over the past few months has further bolstered our confidence in Vivriti’s phenomenal growth potential,” said Ken Vander Weele, co-founder and partner at Creation Investments.

Founded in 2007, Chicago-based Creation Investments makes bets in financial services, particularly small-and-medium enterprise lenders, microfinance institutions and other social ventures in emerging markets.

The firm started investing in India in 2011 and since then has made multiple investments in the country.

Its other recent deals in India include bets on Gurugram-based online lender OfBusiness and domestic remittance services provider Eko India Financial Services Pvt. Ltd.

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