Hyderabad, India-based Fintech NBFC company, Vivifi India Finance has raised USD 75Mn funding in Series B round in a mix of debt and equity.
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Anil Pinapala, a co-founder of Vivifi, stated that the company will reach a million customers over the next 12 to 18 months. The investment comes at a good moment, as regulatory pressure to improve capital adequacies in the unsecured lending industry is growing.
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In addition, Vivifi intends to grow from its current staff of 800 to over 2,000 workers during the next 12 to 18 months. Additionally, it intends to open several offices in Telangana and Andhra Pradesh’s tier-II and tier-III cities at first.
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About Vivifi India Finance
Vivifi India Finance’s vision is to offer Innovative Financial Products to customers across the Credit Spectrum, leveraging Technology and Data Science, with focus on underserved/unserved customers. Working to become India’s largest lender, VIVIFI aims to provide credit for the non-prime borrower with completely automated fulfillment.
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Vivifi India Finance want to achieve this by becoming the lender of choice for the underserved and unserved salaried/self-employed individuals who have limited or no access to credit by onboarding them with a smaller value credit line in the form of FlexSalary and FlexPay.
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