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Vivifi India Finance Secures $75 Million in Series B Funding to Propel Financial Inclusion Mission

Hyderabad-based fintech non-banking financial company (NBFC) Vivifi India Finance has successfully secured $75 million in a Series B funding round, comprising both debt and equity components. Although the company did not disclose the names of the investors involved, regulatory filings indicate that the funds were raised from BP IN VPF LLC, valuing Vivifi at approximately $150 million. The latest capital infusion will play a crucial role in advancing Vivifi's goal of transforming financial inclusion through technology-driven credit solutions. The funds will support the expansion of financial services for underserved communities, leveraging its FlexPay and FlexSalary products.

Established in 2016, Vivifi specializes in providing small-scale loans to underserved communities, having disbursed over Rs 1,000 crore to more than 500,000 customers in the past year. The majority of beneficiaries earn less than Rs 30,000 per month, primarily hailing from tier II and III cities across India. Notably, Vivifi has maintained profitability since its inception, reporting a revenue of Rs 166 crore and a profit after tax (PAT) of Rs 16 crore in FY23. The company aims to nearly double its revenues this year and anticipates disbursing over Rs 3,000 crore.

Vivifi co-founder Anil Pinapala expressed plans to expand the customer base to a million users within the next 12-18 months. The funding comes at a strategic time as regulatory requirements for enhanced capital adequacies in the unsecured lending sector intensify. Additionally, Vivifi aims to increase its workforce from 800 to over 2,000 employees and establish multiple offices across tier-II and tier-III cities in Telangana and Andhra Pradesh in the coming 12-18 months.


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