InnoVen Capital announces Rs.100 crore funding to Yatra for global expansion
ANI | Updated: Sep 21, 2017 12:22 IST
New Delhi [India], Sept 21 (ANI): Venture debt firm InnoVen Capital recently closed a cross-border funding deal of Rs.100 crores with online travel firm Yatra, making it the largest venture debt funding provided to any Indian business and also the largest venture debt deal funded by any venture debt firm in India.
"Through InnoVen's cross border funding capability and our confidence in Yatra's management team, we were able to meet the financing needs of Yatra across different geographies," said Chin Chao, Interim CEO, InnoVen Capital India and CEO, InnoVen Capital South-East Asia
"After having raised USD 92 million through our Nasdaq listing in December 2016, this debt funding provides us additional capital for our growth needs. InnoVen is a market leader in venture debt funding in India and their credit exposure to Yatra is another strong reaffirmation of our leadership position in Indian online travel space and strong business fundamentals," said Group CFO Yatra, Alok Vaish. (ANI)