Digital enterprise lender Vivriti Capital on Wednesday said that it has raised $50 million (around Rs 350 crore) as part of its Series B funding from LGT Lightstone Aspada.

The latest round comes within 10 months of the startup raising $50 million from US-based Creation Investments. With this round, the total funding raised by Vivriti adds to $100 million.

Founded by Gaurav Kumar and Vineet Sukumar in 2017, Vivriti owns the proprietary enterprise debt deal and value discovery online platform - CredAvenue. The tech-enabled platform connects high-quality debt issuers and investors efficiently, offers credit underwriting solutions, analytical models, cutting-edge structuring solutions, and automated execution workflows.

Vivriti founders Gaurav Kumar and Vineet Sukumar said the funds will be used for ramping up the technology and analytical engine powering the online marketplace and to scale up the balance sheet lending of the company.

Vivriti Capital is a registered non-deposit taking NBFC with over 2,000 users with major banks, NBFCs, SFBs, mutual fund houses, DFIs and family offices constitute the key participants on the platform. The platform currently has over 250 issuers and 120+ investors.

The startup says that it turned profitable, registering Rs 2 crore in profits as of FY19. It expects to make profits of Rs 11 crore by the end of December 2020. It also plans to take total credit deployed through its marketplace CredAvenue to Rs 30,000 crore by the end of FY20 and Rs 50,000 crore by FY21.