MUMBAI- LivFin, an SME-focused tech-enabled supply chain fintech firm has secured Rs 35 crore from German development finance institution DEG, the company said on Tuesday.
LivFin, promoted by the Family Office of SAR Group’s Rakesh Malhotra, will use the fund for its expansion purposes, the New Delhi-based firm said in a statement.
DEG and the company signed an investment agreement to this effect in December last year.
“The equity investment of DEG underlines the resilience of our business model. The equity infusion also signals the emergence of supply chain finance as a potent financial sector investment option for investors. After weathering the pandemic impact, we are now well-positioned to accelerate our efforts to address credit-under penetration in the MSME sector with our customized and differentiated offerings,” said Rakesh Malhotra, Founder, LivFin.
”Especially over the last months, it has been impressive to see how digitally enabled models with minimal physical touchpoints and advanced data-insights are paving the future of SME lending. LivFin’s approach to supply chain finance falls exactly in this category and we are convinced that it has the potential to catalyze the advancement of the Indian SME sector.” said Felix Schneider, Vice President FinTechs Global Markets at DEG.
Delhi-based LivFin is in its second year of operation. The company has built a book of over Rs 175 crore and disbursed over Rs 1500 crore on an aggregated basis, it said.
No comments: