Vayana Network revenue soared by over 27% to Rs 153.07 crore in FY24 from Rs 120.50 crore in FY23. Operating revenue accounted for over 97% of the total revenue in FY24, up from 95% in FY23. Its operating revenue streams include supply chain financing (73%), credit assessment data services (18%), and trade compliance services (7%).
Vayana is a leading Supply Chain Finance platform, offering trade credit, risk assessment, and digital enablement across 3,000+ supply chains. It has facilitated over $35 billion in financing for 300,000+ enterprises and provides GST and e-invoicing services. With proprietary technology and global reach, it enhances credit access and risk monitoring for corporates, MSMEs, and financial institutions.
Founded in 2009, Vayana Network has raised Rs 624.68 crore in funding across seven rounds, with the latest raised in August 2024. Founder and CEO Ramaswamy Narayanan Iyer holds a 6.52% stake, while investors like Chiratae Ventures and Marshall Wace hold 8.91% and 7.37%, respectively. The company’s ESOP pool accounts for 15.16% of its shareholding.
The company’s expenses rose by over 33% in FY24 to Rs 264.24 crore from Rs 198.48 crore in FY23. Employee benefit costs increased to over 45% of total expenses in FY24 from 37% in FY23. Finance costs rose to 2.8% in FY24 from 0.7% in FY23, while the cost of materials declined to over 32% of total expenses in FY24 from 45% in FY23.
Vayana’s losses widened by over 41% in FY24 to Rs 110.09 crore from Rs 77.98 crore in FY23. Its EBITDA margin decreased to -62.23% in FY24 from -59.46% in FY23. However, it achieved ROCE breakeven in FY24, improving from -35.59% in FY23.