Commenting on the investment, Chin Chao, Interim CEO, InnoVen Capital India and CEO, InnoVen Capital South East Asia said, “Having observed Yatra and its excellent progress over the last five years, we are proud to again partner with the Company, this time at a different stage in its lifecycle. 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.”
Speaking on the relationship with InnoVen, Alok Vaish, Yatra‘s Group CFO said, “We are very happy to partner again with InnoVen in the largest venture debt deal for any Indian business. After having raised US$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.”
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About InnoVen Capital
InnoVen Capital is Asia’s leading venture lending firm providing debt capital to high growth ventures. Started in 2008 as the first dedicated venture debt provider in India, the platform offers multiple debt capital solutions, including venture debt, acquisition finance, growth loans, and syndication. The firm has since then expanded to South East Asia and China. Till date, InnoVen Capital has provided over 165 loans to more than 120 startups across various stages and geographies, including Oyo Rooms, Swiggy, Pepperfry in India and 123RF, Red Doorz and Oway in South East Asia. For more information, please visit http://www.innovencapital.com and follow us at @InnoVenCap_IN | @InnoVenCap_SG.
SOURCE InnoVen Capital