Mid-market non-banking financial company (NBFC) Vivriti Capital has launched a new co-lending platform VivFlo that provides businesses with access to credit via multiple co-lending partners of Vivriti Capital on a common platform. With a 40 per cent co-lending share in its Rs 8,400 AUM (assets under management), the platform integrates with Vivriti’s network of over 30 co-lending partners and supports over 10 asset types.
VivFlo automates pre-disbursal checks, including KYC, credit bureau data, bank verification, and e-signing. “There are four checks to be done at the time of loan disbursement – KYC, bureau, you run the business rule engine and if it is a secured loan, you do asset verification, calculate LTV and then do income assessment also in a B2C loan journey. This is what VivFlo enables,” Mohan Sushantam, Chief Products & Data Officer at Vivriti Capital told FE Aspire in an interaction. The platform automates compliance checks to minimise regulatory risks.
VivFlo is currently managing monthly disbursement of around Rs 20 crore – 11.45 and plans to increase to Rs 100-150 crore in the coming six months. Currently, 50 per cent of the company’s portfolio involves consumer loan while the remaining is business loans, commercial vehicle loans, loans against property as the company intends to move towards secured loan.
“As a lender, we have decided that it is best to move towards secured lending as that is where risk weights are favourable and profitability is also favourable and we want to maintain a good mix of secured and unsecured lending,” said Sushantam.
He noted that the platform also has the capability of data deduplication or dedupe that prevents duplicate entries and ensure accurate credit assessments, ultimately aiding in the prevention of non-performing assets (NPAs).
“For instance, if a borrower is coming from a different lender, the system has the ability to dedupe, understanding that the customer has already been there on the platform and has raised certain amount from the platform and that probably the customer has missed few payment installments,” said Sushantam.
This helps lenders make informed decisions about loan eligibility and risk assessment, reducing the likelihood of defaults that lead to NPAs. It is also critical for maintaining accurate customer data, improving operational efficiency and ensuring compliance with regulations such as KYC and PMLA (Prevention of Money Laundering).
Vivriti’s co-lending disbursements stood at Rs 5,325 crore out of overall disbursements of Rs 11,455 crore as of FY25. The average ticket size under co-lending was Rs 60,000 while the company’s gross NPA ratio stood at 1.90 per cent.
With the automation through VivFlo, the company intends to bring down the operational expense. Sushantam explains: If one credit manager is needed to do eight assessments, now the same credit manager is actually able to do 24-25 credit assessments through VivFlo. So, the OPEX as a percentage of my disbursement has, let’s say, reduced by one-third.
Vivriti is currently working on use cases where it can use Gen AI to help businesses such as draw insights from conversations between agents and borrowers, speed up the process to identify new leads, make the credit underwriting faster, etc.
Co-lending in India has emerged as a prominent enabler of expanding credit access to underserved segments through partnerships between banks and NBFCs. According to a Grant Thornton report, the year-on-year growth of 134 per cent in loan disbursements under co-lending agreements in FY24 further exemplifies the model’s efficacy. Importantly, public sector banks had expanded their presence in the co-lending ecosystem, with their exposure reaching Rs 11,497 crore in 2024.
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