Vayana Network is a Pune-based Trading startup that raised $20.5 million in its first series D funding  round. The funding round had the participation of various new and existing investors including Chirate,  SMBC Asia Rising Fund, International Finance Corporation, Jungle Leaders, Emerald, and Quantam state investment fund. This marks the first funding round for the startup in 2024. The company plans  to use this fresh capital to scale its operations, enhance its platform, and expand its services in India.  

The board has approved a special resolution to allot 14,62,341 series D CCPS at an issue price of Rs  1168.27 each to raise $20.5 million. According to the company filing, the startup will use these fresh  proceeds for working capital purposes and market expansion. The SMBC Asia Rising Fund invested Rs  62.6 crore while Chirate pumped in Rs 41.7 crore followed by Rs 24 crore from International Finance  Corporation. Jungle Leaders, Emerald, and Quantam-state investment fund invested Rs 42.4 crore. This startup specializes in offering low-cost financing to small enterprises in automotive, manufacturing  industries and suppliers. The startup provides a trading finance services platform that uses various  technologies to offer its customers to facilitate GST, e-way bills, financial advisory, transaction  capabilities, and online invoicing for MSMEs. 

The trading platform helps small enterprises and MSMEs with digital access to low-cost financing. The  platform uses advanced tools and technologies to make online trade secure and easier for its users. The startup data intelligence platform, the kredible mentioned that the Vayana Network has a post money allotment valuation of around 232 million USD. The startup also secured $15 million from IFC  and PayU during its series C funding round in 2022. Last year, the company collaborated with  Singaporean company InvestaX to provide debt-based financial services and products in the APAC  markets. 

The Pune startup reported a growth in its operational revenue from Rs 43 crore to Rs 115 crore in FY23.  However, the firm noticed a two-fold surge in its losses to Rs 78 crore in the same duration. The  company aims to strengthen its platform, make it more secure, and expand its services in India. The  startup competes with other trading platforms including kREDx, CredAble, Drip Capital, and Cashflo. This investmentshows the trust of investorsin Vayana Network’s market potential and business model. 

Conclusion: 

Vayana Network is a trading application that raised $20.5 million through its CCPs in its series D funding  round. The company intends to use this fresh fund to scale its operations, meet working capital  requirements, and expand its network while enhancing its financial capabilities. The startup aims to solidify its position in the investment market. The platform uses advanced technologies to offer the  best user experience and secure transactions. The board passed a resolution to issue 14,62,341 series  D CCPS at a face value of Rs 1168.27 per debenture to raise Rs 170.8 crore. The startup faces  competition from kREDx, CredAble, Drip Capital, and Cashflo