What Vanik Finance does

Vanik Finance Private Limited (formerly Shield Finance Private Limited, CIN U74899DL1994PTC062299) is an RBI-registered Non-Banking Financial Company headquartered in New Delhi, India, offering working capital and supply chain financing products to Indian MSMEs, growing SMEs, and enterprise anchor companies. In 2024, Credlix — the supply chain finance arm of B2B commerce unicorn Moglix — acquired a two-thirds majority stake for Rs 80 crore with RBI approval, repositioning Vanik as the regulated lending vehicle of the Credlix/Moglix ecosystem.

The company's product portfolio spans six core offerings: Invoice Discounting (both Purchase Invoice Discounting for buyer-side suppliers and Seller Invoice Discounting), Bill Discounting, Business/Term Loans (from 13% p.a., ₹10 lakhs to ₹10 crores), Machinery Loans, Loan Against Property (8-13% p.a., up to 15 years), and Anchor Financing covering Vendor Finance and Channel Finance. Underwriting is digital and rules-based, leveraging transaction data and supply chain behavior from the Moglix ecosystem (700 enterprises, 16,000+ SMEs globally) rather than relying primarily on traditional collateral assessment, enabling 24-48 hour disbursement.

Vanik generates revenue primarily through interest income on term loans and secured property-backed loans, and transaction/discount fees on bill discounting (1-3% per month, 12-18% annualized). Distribution combines a digital self-serve channel via vanikfinance.com for SMEs with an enterprise field-sales channel powered by Moglix's anchor relationships. The company reports ₹500+ Crores in working capital disbursed to date and serves thousands of MSMEs and exporters, with stated plans to deploy additional capital to expand MSME and exporter financing capabilities.

Name

Vanik Finance

Legal name

Vanik Finance Private Limited

Website

https://vanikfinance.com

Company type

Private

Founded year

1994

Operating status

Operating

Short description

Vanik Finance is an RBI-registered NBFC in New Delhi offering invoice discounting, bill discounting, business loans, machinery loans, and loan-against-property products to Indian MSMEs and enterprises, operating as the regulated lending entity within the Credlix/Moglix supply chain finance ecosystem.

Ownership category

akta.pro rank

Product category

Supply Chain Finance / MSME Lending

NAICS

Sales Financing (52222), Sales Financing (522220)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Merchant Cash Advance (MCA) & Revenue-Based Financing (FSAKAGAD)

akta.pro secondary industries

Merchant Cash Advance & Revenue-Based Financing Enablement (FSAGALAH), Merchant Cash Advance & Payment-linked Lending (CRAFALAK)

Keywords

• Supply chain financing
• Invoice discounting
• Business term loans
• Machinery equipment financing
• Loan against property

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Bill Discounting Fees: Vanik Finance charges a discount fee when businesses convert unpaid invoices to cash. The fee is typically 1-3% per month (12-18% annually) based on buyer creditworthiness, invoice amount, and tenure. Additional processing fees may apply.
2. Business Loans Interest: Interest income from term loans and working capital facilities disbursed to MSMEs. Interest rates start from 13% p.a. based on business vintage and financials. Loan amounts range from ₹10 lakhs to ₹10 crores.
3. Loan Against Property Interest: Interest income from secured loans using commercial property as collateral. Interest rates range from 8-13% per annum with tenure up to 15 years. Loan amounts are 50-70% of property market value.
4. Machinery Loan Interest: Interest income from equipment financing for machinery purchase, covering construction equipment, industrial machines, medical equipment, and agricultural machinery.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Vanik Finance is an RBI-registered NBFC providing working capital and supply chain financing to Indian MSMEs and enterprises through Invoice Discounting (Purchase and Seller variants), Bill Discounting, Business/Term Loans, Machinery Loans, Loan Against Property, and Anchor Financing (Vendor Finance and Channel Finance). The company combines 30+ years of NBFC heritage with a digital underwriting platform leveraging Moglix ecosystem supply chain intelligence to deliver funding decisions in 24-48 hours, with loan sizes ranging from Rs 10 lakhs to Rs 10 crores.

Product overview

Vanik Finance is an RBI-registered NBFC offering a comprehensive suite of supply chain financing products designed around how Indian businesses operate. The product portfolio centers on working capital solutions including Invoice Discounting (both Purchase and Seller variants), Bill Discounting, Business/Term Loans, Machinery Loans, Loans Against Property, and Anchor Financing (Vendor/Channel Finance). These products serve MSMEs, small businesses, growing SMEs, enterprises, traders, distributors, manufacturers, and freelancers across manufacturing, trading, and service sectors. The company operates as a Credlix company, combining traditional NBFC credibility with digital underwriting capabilities for faster credit decisions.

Differentiator

Problem solved

Functional benefit

Products and services

• Invoice Discounting (PID / SID) Converts outstanding invoices into immediate working capital for both buyer-side suppliers (Purchase Invoice Discounting) and sellers holding credit (Seller Invoice Discounting). Works on both sides of the supply chain with rapid disbursement of up to 90% of invoice value.
• Bill Discounting Trade financing service that converts unpaid invoices into cash by selling them at discounted rates (1-3% per month) to the lender. Provides instant working capital without adding debt to the balance sheet, with short-term credit lines typically ranging from 30 to 180 days.
• Business / Term Loan Flexible term-based financing for working capital needs, operational scale-up, or business expansion assessed on financial performance and business profile rather than just collateral. Loan amounts range from Rs 10 lakhs to Rs 10 crores with interest rates starting from 13% p.a. Suitable for asset-light businesses and startups.
• Machinery Loan Financing solution for purchasing equipment, machinery, and production tools. Covers new and used machinery for manufacturing, construction, agricultural, and industrial purposes with flexible repayment tenure.
• Loan Against Property Secured loan facility leveraging commercial or residential property as collateral to access high-value, long-tenure financing at lower interest rates (8-13% p.a.). Loan amounts are 50-70% of property market value with repayment tenure up to 15 years. Retains full ownership and usage rights of the property during the loan period.
• Anchor Financing (Vendor Finance & Channel Finance) Structured finance programs for enterprise anchors including vendor finance and channel finance. Enables anchor companies to pay vendors early, extend credit to distributors, and strengthen supply chain relationships without balance sheet strain.

Quantifiable outcome

• Working capital disbursed of ₹500+ Crores
• +2 more outcomes

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Kinara Capital: Kinara Capital is an RBI-registered NBFC providing business loans and machinery financing to MSMEs in India. Its collateral-light term loan and equipment financing products overlap closely with Vanik's business/term and machinery loan products.
• Flexiloans: Flexiloans is an Indian MSME-focused digital lender providing working capital, term loans, and supply chain financing to small businesses. It is a direct competitor in the same customer segment and product categories as Vanik Finance.
• Lendingkart Technologies: Lendingkart is an Indian fintech NBFC providing working capital and term loans to MSMEs via a digital underwriting platform. It competes head-to-head with Vanik Finance in unsecured and lightly secured MSME lending, with overlapping products (business loans, invoice financing) and target segments.
• KredX (Mynd Solutions): KredX operates an invoice discounting and supply chain financing marketplace for Indian MSMEs and enterprises. Its core product — invoice financing on a digital platform — directly competes with Vanik's PID/SID and bill discounting offerings.
• Indifi Technologies: Indifi is an Indian digital lending platform offering unsecured business loans, supply chain financing, and invoice discounting to MSMEs. Its product portfolio, target segment, and technology-led underwriting approach directly mirror Vanik Finance's playbook.
• CredAvenue (Yubi): Yubi (formerly CredAvenue) operates a debt marketplace and supply chain finance platform in India, including invoice discounting and co-lending. Its enterprise-facing supply chain financing business directly overlaps with Vanik's anchor/vendor finance proposition.
• Moneyboxx Finance: Moneyboxx Finance is an RBI-registered NBFC offering small-ticket business loans to underserved MSMEs in Tier 2/3 India. It is a comparable direct peer in the MSME NBFC space, though smaller and more geographically focused than Vanik.

Broad incumbents

• Bajaj Finserv: Bajaj Finserv is a large Indian diversified financial services group offering MSME loans, business loans, and supply chain financing through Bajaj Finance. It is a broader incumbent with a much larger balance sheet and brand than Vanik, competing in overlapping but wider product categories.
• Tata Capital Financial Services: Tata Capital is a large Indian NBFC providing business loans, supply chain financing, and equipment loans to SMEs and corporates. It competes with Vanik across term loans and supply chain finance but at much larger scale and with the Tata brand.

Others

• Mynd Solutions (KredX parent): Mynd Solutions provides invoice discounting, working capital, and supply chain financing infrastructure for Indian businesses, operating platforms like KredX. It is an ecosystem-adjacent peer enabling digital invoice financing similar to Vanik's underlying tech stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vanik Finance