India-based SME lending platform LivFin said to close funding round

LivFin, an online supply chain and invoice finance solution to small and medium sized businesses in India, has reportedly raised INR 32 crore ($4.7m) in its funding round.

Germany-based DEG supplied the capital, according to a report from Devdiscourse.

The FinTech company is a non-banking financial company registered with the Reserve Bank of India and supplies small business loans, supply chain finance and working capital loans.

LivFin is hoping to break even next year.

LivFin founder Rakesh Malhotra told Devdiscourse, “The equity investment of DEG underlines the resilience of our business model apart from signalling emergence of supply chain finance as a potent financial sector investment option for investors.”

Last week, fellow India-based FinTech platform GetVantage reportedly closed a $5m in its seed round. The company offers businesses the ability to access no-interest funding in exchange for shares within the company.

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