IDG, Jungle back India's Vayana Network

AVCJ understands the equity investment represents a 26% stake in the company. The capital will be used to advance business-to-business (B2B) trade financing operations in India and abroad. It follows a seed round led by Reliance Industrial Investments and Holdings.

Vayana claims to be India’s largest technology-based third party B2B trade financing platform, with more than INR40 billion ($622 million) worth of transactions via nine lending partners recorded to date. The company says its focus on trade documentation allows it to play an important role in the Indian government’s recently reformed goods and services tax regime.

“Like many other things India is going to leapfrog existing supply chain financing solutions,” Amit Anand, founding partner at Jungle, said in a statement. “Today’s supply chains must be dynamic and as a result supply chain financing is a data and performance analytics oriented business.”

IDG is investing via its third India-focused fund, which closed at $200 million earlier this year. Jungle is deploying its second fund, which closed in December with $100 million and focuses on Series A and select Series B investments in technology start-ups across Southeast Asia, India and Australia.

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• Topics
• South Asia
• Financials
• Technology
• Early-stage
• India
• IDG Ventures
• Jungle Ventures
• Financial Services
• TMT
• Venture