Vivifi India Finance, a Hyderabad-headquartered fintech NBFC, has recently secured $75 million in Series B funding from a specialty finance entity based in the United States. The funding, structured as a combination of debt and equity in a preferential round, marks a significant milestone for Vivifi as it gears up for business expansion. The company aims to extend its financial services to underserved communities across India through its product offerings.
Over the past year, Vivifi has disbursed ₹1,000 crore to more than 500,000 customers nationwide, with plans to exceed ₹3,000 crore in the current fiscal year. While Telangana, Andhra Pradesh, Maharashtra, and Karnataka remain their primary markets, the company is looking to bolster its presence in northern states. Founder Anil Pinapala emphasized the company’s commitment to reaching a broader customer base, particularly those earning less than ₹30,000 per month in tier-II and III cities.
With regulatory pressures mounting in the unsecured lending sector, the infusion of capital comes at a critical time for Vivifi. Pinapala highlighted the importance of expanding the company’s workforce, with plans to increase staff to over 2,000 employees from the current 800. Additionally, Vivifi intends to establish multiple offices across tier-II and III cities in Telangana and Andhra Pradesh initially, with future expansion efforts nationwide.