Unveiling Vivifi’s Funding Triumph: The Silent Backers and a Unique Debt-Equity Blend
In a strategic move, Indian fintech firm Vivifi has successfully secured funding in a round where the backers remain undisclosed.
This substantial infusion of capital, structured as a combination of debt and equity in a preferential round, is poised to drive Vivifi’s mission of extending financial services to underprivileged communities.
Mission Expansion: Financial Inclusion Through FlexPay and FlexSalary
Vivifi’s primary objective with the funds is to expand its financial services footprint in under-served communities, leveraging its innovative products – FlexPay and FlexSalary.
With a commitment to inclusivity, Vivifi envisions reaching beyond its current capabilities, aiming to grow its workforce from the existing 800 employees to over 2000 in the next 12-18 months.
Strategic Geographic Presence: Tier-II and Tier-III Cities to Witness Vivifi’s Impact
Focusing on regional growth, Vivifi plans to establish multiple offices initially in tier-II and tier-III cities in Telangana and Andhra Pradesh.
This strategic move aligns with the company’s broader vision of nationwide expansion, bringing financial services to areas that often lack comprehensive coverage.
Vivifi’s Founding Vision: Empowering Underserved Communities with Accessible Credit
Founded by Anil Pinapala and Srinath Kompella, Vivifi operates as an RBI-registered non-banking finance company (NBFC) with a core mission of providing credit access to underserved communities in India.
Through its flagship products FlexPay and FlexSalary, Vivifi offers sachet-sized loans and a personal emergency line of credit, catering to the unique needs of its target demographic.
Fiscal Success and Ambitious Goals: Vivifi’s Financial Report and Forward Projections
In the fiscal year 2023, Vivifi reported a revenue of Rs. 166 crores, accompanied by a Profit After Tax (PAT) surpassing Rs. 16 crores.
The company, fueled by its recent funding success, sets ambitious goals, aiming to nearly double its revenues in the current year and disbursing over Rs. 3,000 crores.
Visionary Growth: From 800 to 2000 Employees and Beyond
Vivifi’s growth trajectory extends beyond financial metrics. The company plans to amplify its impact by expanding its workforce from 800 to over 2000 employees in the next 12-18 months.
This surge in human resources is aligned with the overarching vision of fostering financial inclusion and accessibility.
Future Landscape: Vivifi’s Nationwide Expansion Plans and Ongoing Commitment to Financial Inclusion
With the infusion of capital, strategic geographic expansion, and a growing workforce, Vivifi envisions a future where its innovative financial solutions reach every corner of India.
The company’s commitment to financial inclusion remains unwavering as it navigates the dynamic landscape of India’s underserved communities.Share on Facebook «||» Share on Twitter «||» Share on Reddit «||» Share on LinkedIn