Fintech NBFC LivFin raises $2 mn from venture debt player BlackSoil

Delhi-based LivFin India Private Limited has raised $2 million in venture debt from alternative credit platform BlackSoil, it said in a statement on Thursday. 
 
Operational since January 2018, LivFin is a Delhi-based fintech NBFC that provides supply chain finance to mid-to-large corporates by setting up programmes to lend to their suppliers, vendors and distributors, dealers, retailers through an 'Anchor'-based financing model.  
 
The company is backed by SAR Group promoters and has attracted investments from German DFI - DEG. It has disbursed over $285 million to date and there have been no write-offs, it said in the statement.

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Commenting on the fundraise, Rahul Chander, LivFin CEO said, "We are delighted to partner with BlackSoil who have validated our processes that leverage technology to distribute credit and look forward to strengthening our relationship further with the years to come." 
 
The company has raised over $35 million in debt from more than 15 lenders to date. According to an official statement, the start-up NBFC plans to disburse over $85 million in the financial year 2022-23.

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"We are thoroughly impressed with LivFin's end-to-end tech-enabled underwriting and collection processes supplemented with a unique Anchor-based business model and look forward to supporting them in growing their portfolio", stated Ankur Bansal, Co-founder of BlackSoil. 
 
At present, the value of supply chain finance in India is Rs 60,000 crore which is less than 10 per cent of the addressable market.

The total market size is expected to be Rs 18 lakh crore based on the value of invoices raised by the supplier.