Vivifi India Finance: $75M Series B Funding Secured

SA TeamFebruary 6, 2024

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Three points you will get to know in this article:

Vivifi India Finance secures $75 million in Series B funding.
Profitable since inception, it plans revenue and customer base growth.
Vivifi aims to expand workforce and offices in Telangana and Andhra Pradesh.

Hyderabad-based fintech NBFC, Vivifi India Finance, has successfully secured $75 million in its Series B funding round, a blend of debt and equity.

Although the specific investors remain undisclosed, regulatory filings indicate that BP IN VPF LLC has contributed to this funding, propelling Vivifi’s valuation to an estimated $150 million.

Fiscal Year Performance and Growth Projections

In the preceding fiscal year (FY21), Vivifi had garnered $6 million in its Series A round, primarily from family and internal sources.

This influx of fresh capital assumes a crucial role in advancing Vivifi’s commitment to transforming financial inclusion through innovative, technology-driven credit solutions. According to a company press release, the funds will be instrumental in expanding financial services to underserved communities, primarily through its products, FlexPay and FlexSalary.

Financial Inclusion and Loan Disbursement

Established in 2016, Vivifi specializes in providing compact loans tailored for underserved communities. The company asserts that it has successfully distributed loans totaling more than Rs 1,000 crore to over 500,000 customers in the preceding year. Noteworthy is the fact that a significant majority of these recipients earn less than Rs 30,000 per month, hailing from tier II and III cities throughout India.

What sets Vivifi apart is its consistent profitability since its inception. In the fiscal year 2023, the company disclosed a revenue of Rs 166 crore, accompanied by a noteworthy profit after tax (PAT) of Rs 16 crore. Anticipating substantial growth, Vivifi aims to nearly double its revenues this year, with plans to disburse over Rs 3,000 crore.

Expansion Plans and Workforce Augmentation

Anil Pinapala, co-founder of Vivifi, shared that the company is on track to expand its customer base to a million users within the next 12-18 months. This expansion coincides with a timely infusion of capital, given the escalating regulatory requirements for enhanced capital adequacies in the unsecured lending sector.

Vivifi is on a mission to bolster its team, setting its sights on surpassing 2,000 dedicated professionals within the upcoming 12 to 18 months, a significant stride from the current workforce of 800. Additionally, the company is strategically mapping out the establishment of numerous offices in the vibrant landscapes of tier-II and tier-III cities in Telangana and Andhra Pradesh. This expansion initiative is poised to not only enhance operational reach but also cultivate a stronger presence in diverse communities.

Hyderabad-based fintech NBFC, Vivifi India Finance, secured $75 million in Series B funding, propelling its valuation to an estimated $150 million. The company focuses on financial inclusion, providing compact loans to underserved communities, distributing over Rs 1,000 crore to 500,000+ customers, mainly from tier II and III cities. Vivifi’s consistent profitability and fiscal year 2023 revenues of Rs 166 crore with a PAT of Rs 16 crore reflect its strong performance. With plans to double revenues and expand its customer base, Vivifi aims to surpass 2,000 professionals and establish offices in diverse locations, reinforcing its commitment to growth and community presence.