Vivifi’s Fintech NBFC secures $75 Mn in Series B funding.

In a Series B funding round, Hyderabad-based fintech NBFC Vivifi has raised $75 million in a combination of debt and equity. The company did not disclose the name of its investors but regulatory filings reveal that funds were raised from BP IN VPF LLC. This funding will be used to drive Vivifi’s mission of revolutionizing financial inclusion through technology-driven credit solutions, as well as to support the extension of financial services for underserved communities. Vivifi offers sachet size loans and has disbursed over Rs 1,000 crore worth of loans to more than 500,000 customers in the past year. The company reported a revenue of Rs 166 crore and a profit after tax of Rs 16 crore in FY23, and aims to nearly double its revenues this year while disbursing over Rs 3,000 crore. Vivifi plans to expand its customer base to a million users, hire over 2,000 employees, and establish offices in multiple tier-II and tier-III cities in Telangana and Andhra Pradesh.