Trade finance platform Vayana Network said it has completed $5 billion of financing on its platform till date. The company had clocked $4 billion earlier this year. It works with over 300 corporates and 20,000 MSME businesses financing the entire network – suppliers, dealers, and retailers across 25 sectors and 20 countries. Ram Iyer, Founder, and CEO, Vayana Network said the last 6 months have been very challenging for corporates and MSMEs during the pandemic and the company has seen a 50% surge in the demand for working capital. The entire supply chain was broken and accessing finance was very difficult but the company introduced newer solutions like flow-based financing and backed by its fully digital assessment-to-financing platform, it has helped companies retain their business operations to normalcy, by helping them access affordable financing quickly and conveniently, he added. He also said the company is planning to launch new services like last-mile financing. In India, Vayana Network has processed 1.7 million transactions till date and has helped finance thousands of MSMEs.
