InnoVen Capital Announces Cross-Border Funding of USD 15.4 million to Yatra Online Private Limited and Its Parent (“Yatra”) in the Largest Venture Debt Facility Provided to Any Indian Business

26-Sep-2017 Intellasia | BusinessWire | 11:05 PM Print This Post

Largest venture debt deal funded in India

MUMBAI, India–(BUSINESS WIRE)–#InnoVen–InnoVen Capital, Asia’s leading venture debt firm, recently closed a
cross-border funding deal of USD 15.4 million with Yatra (www.yatra.com).
NASDAQ-listed Yatra (NASDAQ: YTRA, OTCQX: YTROF) is India’s leading
online travel Company and provides a full range of travel-related
services such as domestic and international air ticketing, hotel
booking, homestays, holiday packages, bus ticketing, rail ticketing,
activities, attractions and ancillary services. Yatra recently announced
the acquisition of Air Travel Bureau Ltd., which is India’s largest
independent corporate travel services provider, making the combination
the largest corporate travel services platform in India. This financing
round by InnoVen Capital is 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.

InnoVen Capital India had previously extended a USD 4 million venture
debt facility to Yatra in 2013 while the latest funding is the second
round of financing to the company. The debt capital will be utilized to
meet the growth and diversification needs of Yatra and to add to its
list of unique services that further enrich travel offerings for its
users.

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.”

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 www.innovencapital.com
and follow us at @InnoVenCap_IN | @InnoVenCap_SG.

Contacts

InnoVen Capital
Suhani Chhaparwal
+91-9167004979
suhani@innovencapital.com

 


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