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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
The Benzinga Global Fintech Awards are a yearly showcase of the greatest advents in fintech from leaders and visionaries in the worlds of finance and technology. This year, we have executives, developers and innovators from the likes of Facebook, Amazon, IBM, JP Morgan, Zelle, TD Ameritrade, TradeStation, Fidelity, and so many more.
In preparation for its biggest installment yet this May, we're profiling the companies competing for the BZ Awards. In this feature we focus in on Vayana Network
What does your company do? What unique problem does it solve?
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Vinod Parmar, Global Head of Sales & Marketing: One of the major challenges faced by businesses today is inadequate access to working capital. Traditional trade financing is not only expensive but hugely paper and time intensive. Vayana Network enables Enterprises and their Supply chains easy, digital and quick access to Short Term Trade Finance (STTF), at lower than market rates. Banks and traditional lenders focus only on large corporates and the top-tier of the Supply Chain network. Vayana Network digitally connects Buyers and Sellers for seamless exchange of documents and acceptances, thus allowing automated financing of the trade. Enterprises on our Network see minimal documentation, no changes to processes and no investment in technology. Enterprises are onboarded in a matter of minutes and get access to funds with automated reconciliation from payment to invoice.
Who are your customers?
Parmar: Corporates and SMEs
How long have you been in business?
Parmar: 7 years
Where are you located?
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Parmar: We are headquartered in Pune, India, with offices in the US and Singapore. Enterprises on our Network are spread across 11 countries
Who is your company's leadership? What kind of experience do they have?
Parmar: The company was founded by RN Iyer, a serial entrepreneur, who is the CEO of the company. He founded Vayana with a vision to make a positive impact on the economy by democratizing the access to low-cost financing to every enterprise. He was also the co-founder and CEO of CashTech Solutions, a leading Cash Management vendor in Asia, which was acquired by Nasdaq listed Fundtech. Iyer has previously worked with Accenture. He is a management graduate from Indian Institute of Management, Ahmedabad and an Engineer from Mumbai University.
Who are your investors, if any?
Parmar: IDG Ventures, Jungle Ventures and other institutional investors.
Is there anything else Benzinga should know about your company?
Parmar: Vayana Network has till date enabled USD 800+ million in financing and today covers over 15 different industries, from Manufacturing to Ecommerce. Our Network is present in 11 countries, and is active in 25 states in India and 12 states in the United States. We are PCI DSS and ISO 27001:2013 compliant. We are the winners of the PYMNTS GOLD award for Credit Innovation given by PYMNTS.com 2015, USA.
In India, Vayana Network also offers end-to-end services to Corporates and SMEs to meet their Goods and Services Tax (GST) and E-Way bill compliance needs and is one of the Government authorized GST Suvidha Providers (GSP) in the country. Vayana GSP serves over 500 large corporates and some of the largest financial institutions/banks, in addition to other third-party Application Service Providers (ASPs) that have over 150,000 SMEs routing their API traffic through us.
To meet with the minds behind companies like Vayana Network and others testing the cutting edge of fintech, grab a ticket to the Benzinga Global Fintech Awards May 15-16 in New York.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.