Vayana Network Company Profile

Background

Vayana Network, founded in 2009 and headquartered in Pune, Maharashtra, India, is a leading supply chain finance platform. The company's mission is to democratize access to trade finance, ensuring that every business, regardless of size, has easy access to affordable trade credit. Vayana envisions an ecosystem where financing is seamlessly embedded within transactions, making it an automatic and integral part of B2B trade.

Key Strategic Focus

Vayana's strategic focus centers on providing digital, convenient, and affordable access to credit for enterprises across all tiers of the supply chain. The company specializes in:

Trade Credit Solutions: Offering a range of trade credit and trade enablement solutions tailored for various supply chain levels.

GST Compliance Services: As India's largest GST Suvidha Provider (GSP), Vayana facilitates GST, E-Way bill filing, and E-invoicing for numerous corporates and SMEs.

Risk Assessment and Monitoring: Through its subsidiary, Rubix Data Sciences, Vayana offers platforms for monitoring credit, supplier, and counter-party risks.

The primary markets targeted include MSMEs and large corporations across diverse sectors, aiming to bridge the significant trade credit gap faced by small and micro enterprises in India.

Financials and Funding

Vayana has successfully raised multiple funding rounds to support its growth and expansion:

Series C Funding (November 2021): Raised ₹283 crore (approximately $38 million) from investors including Chiratae Ventures, CDC Group, Jungle Ventures, March Capital, Marshall Wace, and various family offices.

Series D Funding (August 2022): Secured $20.5 million led by SMBC Asia Rising Fund, with participation from Jungle Ventures, Chiratae Ventures, International Finance Corporation (IFC), and others.

The capital raised is intended for launching new products, investing in technology, hiring across functions, and building partnerships within the ecosystem.

Technological Platform and Innovation

Vayana's technological prowess is evident in its proprietary platforms and services:

Supply Chain Finance Platform: Facilitates digital, convenient, and affordable access to credit for payables and receivables, processing over 5 million financing transactions.

GST Compliance Platform: As India's largest GSP, Vayana has processed over 8 billion GSP API calls, maintaining zero downtime since its launch.

Risk Assessment Platform: Through Rubix Data Sciences, Vayana offers the Rubix ARMS™ platform for monitoring credit, supplier, and counter-party risks, serving over 1,300 corporates, banks, and fintechs.

These platforms leverage advanced technologies to provide seamless and efficient services to clients.

Leadership Team

Ram Iyer: Founder & CEO. A serial entrepreneur with over 25 years in the cash and trade space, previously co-founder and CEO of CashTech Solutions. Holds a management degree from IIM Ahmedabad and an engineering degree from Mumbai University.

Competitor Profile

Market Insights and Dynamics

The digital lending market in India has experienced significant growth, expanding from $9 billion in 2012 to $150 billion in 2020, with projections to reach $350 billion by 2023. Within this landscape, supply chain financing is a rapidly growing segment, addressing the substantial trade credit gap faced by MSMEs.

Competitor Analysis

Key competitors in the supply chain finance and digital lending space include:

Vivriti Capital: Focuses on providing debt capital to mid-market enterprises.

Yubi (formerly CredAvenue): Connects enterprises with lenders and investors, offering a comprehensive debt platform.

KreditBee: Specializes in personal loans and credit solutions for young professionals.

FinAGG: Provides working capital solutions to MSMEs through innovative financial products.

These competitors offer various financial services targeting similar market segments, contributing to a dynamic and competitive landscape.

Strategic Collaborations and Partnerships

Vayana has established significant collaborations to enhance its market position and service offerings:

Rubix Data Sciences: A subsidiary providing risk assessment and monitoring solutions, serving over 1,300 corporates, banks, and fintechs.

International Trade Finance Services (ITFS) Platform: Vayana received in-principle approval to set up an ITFS platform at GIFT City, Gujarat, under the guidelines issued by the International Financial Services Centres Authority (IFSCA).

Operational Insights

Vayana's strategic considerations include:

Market Position: As India's largest supply chain finance platform, Vayana has facilitated financing of over $30 billion, engaging over 300,000 enterprises across 3,000+ supply chains.

Competitive Advantages: Proprietary technology platforms, extensive network coverage, and strong relationships with financial institutions and corporates provide Vayana with a distinct edge in the market.

Strategic Opportunities and Future Directions

Vayana's strategic roadmap includes:

Product Expansion: Launching new products to cater to every segment of the supply chain and various trade types.

Technological Investment: Continued investment in technology to enhance platform capabilities and user experience.

Geographical Expansion: Building partnerships to extend services to new markets, including potential expansion into countries like Japan, South Korea, or Taiwan.