IBEF: December 20, 2019
LivFin, a supply chain-focussed fintech firm, has raised US$ 5 million of equity capital from German development finance institution DEG to fund its expansion plans. As per company's estimates, by March 2020, the company is expecting to reach a total Assets Under Management (AUM) target of US$ 40 million.
With this funding round, the company's equity will double which would allow the company to raise additional debt and register a significant growth in the total AUM, the company said in a statement.
LivFin MD & CEO Mr Rahul Chander said, "The investment will be a boost to our planned growth over the next 12-18 months and make LivFin a serious player in the supply chain finance space in India".
LivFin has disbursed over US$ 150 million in aggregate. It has secured debt funding of US$ 14 million from nine lenders.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.