PROJECT

Projects

Summary of Investment Information

Project Number

46347

Company Name

VAY NETWORK SERVICES PRIVATE LIMITED

Date SPI Disclosed

Dec 28, 2021

Country

India

Region

South Asia

Projected Board Date

Jan 31, 2022

Environmental Category

C - No Impact

Status

Active

Last Updated Date

Jun 11, 2022

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Mar 29, 2022
Signed : Mar 31, 2022
Invested : Apr 15, 2022

Sector

Trade Finance

Project Description

IFC is considering an equity investment in Vay Network Services Private Limited (“Vayana” or the “Company”). The Company is a technology-enabled supply chain finance platform that connects micro, small and medium enterprises (MSMEs) and corporates with banks and other financial institutions for payables and receivables financing, primarily in India. Vayana is also one of India’s largest Goods & Service Tax (GST) Suvidha providers, offering GST, E-Way Bill and E-Invoice pass-through API services and other related services.

Associated Advisory Engagement

N/A

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation