In a significant milestone, VIVA Money has been recognised as ‘Asia’s Rising Star in Fintech’ at the Asian Brand and Leadership Conclave 2024. This accolade was presented by KC Tyagi, Former Member of both the Lok Sabha and Rajya Sabha and renowned actor Kabir Bedi at the grand event hosted by The Brand Story at Vivanta by Taj, Surajkund, NCR, on September 6, 2024. The conclave, which celebrated the remarkable impact of Asian brands on the global stage, drew over 100 delegates from 15+ countries, including top business leaders, innovators, entrepreneurs, and thought leaders from across the continent.
This recognition marks a major achievement for VIVA Money, a young fintech company that has rapidly emerged as a key player in the industry since its launch in December 2023. VIVA Money is a digital financial lending platform offering India’s first Line of Credit with a grace period of up to 51 days. The company leverages advanced online tech-based proprietary models and data-centric KYC processes to deliver seamless financial services.
VIVA Money has made financial services more accessible and user-friendly, through its mobile application and website, particularly for the underserved segments of society. By offering flexible lending and borrowing solutions, easy repayment options, and a seamless process, the company has established itself as a trusted name in the fintech landscape. Its focus on bridging the financial gap between salaried and self-employed individuals has reinforced financial inclusion in India, particularly targeting the subprime category.
Impressive growth trajectory
Since its inception, VIVA Money has demonstrated its commitment to serving many underserved customers nationwide. Starting its journey in Gujarat and Karnataka, the company quickly expanded into Maharashtra, solidifying its presence in these key markets. Today, VIVA Money boasts over 11,000 active credit line customers across these three states. With an average ticket size exceeding Rs 40,000, the company has disbursed Rs 60 crore within 10 months of operation—an impressive feat for a fintech startup.
This rapid growth is a testament to VIVA Money’s dedication to delivering valuable financial services and building customer trust. The company’s success underscores its effectiveness in catering to the needs of subprime customers and highlights its potential to further disrupt the Indian fintech industry.
VIVA Money is a subsidiary of Tirona Limited, a holding company headquartered in Cyprus. Tirona Ltd operates across Europe, Asia, and South America, investing in fintech opportunities as well as established companies in banking and IT. Tirona’s key investments include 4 Finance, the world’s leading digital consumer finance company, and TBI Bank, a next-generation digital bank with operations in Romania, Bulgaria, and Greece. This robust backing and global perspective give VIVA Money a strong foundation to continue its growth trajectory.
Future vision and aspirations
Looking ahead, VIVA Money is focused on scaling its operations and reaching a broader demographic. The company is targeting a loan book of Rs 140 crore by the end of this year, with plans to expand its services across PAN India by the 2025 financial year. On this occasion, George Donchenko, Managing Director of VIVA Money, expressed his gratitude, saying, “The constant accolades and awards fuel our motivation to continue our journey towards becoming one of the best in the fintech industry.”
We extend our heartfelt thanks to The Brand Story for this honour and to ET NOW for broadcasting the event, allowing us to share this achievement with the world.”
India, one of the world’s fastest-growing financial markets, still has a significant population that lacks access to adequate banking services and financial support. However, the post-COVID landscape has seen a surge in fintech companies, thanks to the Indian government’s supportive policies. Among these emerging players, VIVA Money stands out, consistently proving its ability to rise, innovate, and redefine the future of financial inclusion in the country.
As the company continues to chart its upward trajectory, it remains committed to making financial services more accessible, transparent, and user-friendly. With its impressive growth, innovative approach, and dedication to serving the underserved, VIVA Money is well on its way to becoming a significant force in the fintech industry.
