Non-banking financial company (NBFC) Vivriti Capital has recently provided polymer procurement tech company Source.One with a substantial supply chain liquidity of Rs 40 crore.
This injection of capital is poised to significantly enhance Source.One’s operational capabilities in streamlining raw material procurement for Micro, Small, and Medium Enterprises (MSMEs).
Background:
Founded in 2018, Source.One stands out as a polymer distribution company leveraging technology to optimize the process of raw material procurement.
The company’s operational model involves the procurement of polymers from suppliers, followed by prompt dispatch to buyers within a remarkable two-day timeframe.
Vivriti Capital’s Solution:
Vivriti Capital’s sales and vendor factoring solution in supply chain finance has emerged as a game-changer for Source.One. This dynamic credit facility ensures seamless operations for traders, devoid of any added debt burden on the balance sheet.
According to a statement by the company, this partnership exemplifies Vivriti Capital’s commitment to offering innovative liquidity solutions tailored to the specific needs of mid-market enterprises.
Insights from Vivriti Capital:
Rohit Sinha, Head of Supply Chain Finance at Vivriti Capital, expressed enthusiasm about the partnership, emphasizing the tailored approach to meet Source.One’s unique requirements. Sinha highlighted how the infusion of liquidity
throughout the polymer trade supply chain has been instrumental in driving growth for Source.One. He further elaborated on Vivriti Capital’s strategic focus on providing high-ticket exposure to ensure timely access to growth capital for businesses like Source.One.
Collaborative Initiatives:
This development comes on the heels of other collaborative efforts by Vivriti Capital aimed at fostering growth and innovation in various sectors. Notably, since December of the previous year, Vivriti Capital has been at the forefront of initiatives such as the three-year loan partnership with Axis Bank,
amounting to Rs 250 crore. This collaboration, in conjunction with GuarantCo, a part of the Private Infrastructure Development Group (PIDG), is geared towards boosting electric mobility in the country.
Vivriti Capital’s Offerings:
Established in 2017, Vivriti Capital has solidified its position as a leading NBFC offering an array of financial products and services.
These include term loans, working capital loans, non-convertible debentures (NCDs), supplier credit, buyer finance, and asset leasing, catering specifically to the needs of mid-market enterprises.
Conclusion:
The infusion of Rs 40 crore supply chain liquidity into Source.One by Vivriti Capital marks a significant milestone in fostering innovation and growth within the polymer procurement sector. As Source.One continues to leverage technology and strategic partnerships,
facilitated by Vivriti Capital, the landscape of MSMEs’ raw material procurement stands to witness further streamlining and efficiency. This collaboration underscores the pivotal role of NBFCs like Vivriti Capital in driving economic growth and empowerment across various industries.
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