Non-banking financial company (NBFC) Vivriti Capital has provided polymer procurement tech company Source.One with supply chain liquidity of Rs 40 crore.
Founded in 2018, Source.One is a polymer distribution company which uses tech to streamline raw material procurement for MSMEs.
It purchases polymers from its suppliers and dispatches them to the buyers within two days. Vivriti Capital’s sales and vendor factoring solution in supply chain finance provides a running and dynamic credit facility to traders to ensure smooth operations without any debt on the balance sheet, the company said in a statement.
“Vivriti Capital’s partnership with Source.One signifies the innovative liquidity solutions we offer to mid-market enterprises with differentiated requirements, specifically curated to ease the supply chain financing needs,” Rohit Sinha, Head of Supply Chain Finance at Vivriti Capital, said.
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“By offering high-ticket exposure, we’ve ensured that Source.one receives the necessary growth capital at the right time. Our solution has effectively injected liquidity throughout the entire polymer trade supply chain”, Sinha added.
Since December last year, Axis Bank extended a three-year loan of Rs 250 crore to Vivriti Capital in partnership with GuarantCo, a part of the Private Infrastructure Development Group (PIDG), to boost electric mobility in the country.
Founded in 2017, Vivriti Capital offers term loans, working capital loans, non-convertible debentures (NCDs), supplier credit, buyer finance, and asset leasing to mid-market enterprises.
Edited by Kanishk Singh
