Vivifi India Finance, a Hyderabad-based fintech NBFC, has raised $75 million from a speciality/alternative finance entity in the U.S.
Announcing the successful completion of the Series B funding, structured in a combination of debt and equity as a preferential round, Vivifi said the capital raised will play a pivotal role in business expansion and support the extension of its financial services to those in underserved communities through its products.
It has disbursed ₹1,000 crore to over 5,00,000 customers across India over the past year and is aiming to cross ₹3,000 crore this fiscal. While Telangana, Andhra Pradesh, Maharashtra and Karnataka are major markets, the company intends to ramp up its operations in northern states, founder Anil Pinapala.
