CredAvenue, a leading enterprise debt marketplace that connects enterprises with lenders and investors, on Wednesday announced the closing of its first funding round of $90 million, led by Sequoia Capital India and co-led by Lightspeed, TVS Capital Funds and Lightrock, among others. Avendus Capital was the exclusive financial advisor to CredAvenue on the transaction.

Chennai-headquartered CredAvenue is building infrastructure to power debt markets and offers solutions for discovery and execution across a wide range of products. To date, it has facilitated transactions worth $9 billion through the platform, while engaging with over 1,500 institutional borrowers and over 750 investors, touching 1 million end retail borrowers.

The funds raised in this round will be utilised towards expanding product capabilities and ramping up the platform’s technology and data science infrastructure. The company aims to invest heavily in data science, machine learning and artificial intelligence over the next few months to significantly improve and expand its product offerings, across each of its sub-platforms. CredAvenue aims to transform from an assisted platform to a completely self-serve one, thereby improving the speed and autonomy of the platform’s users.

Gopal Srinivasan, chairman at TVS Capital Funds, said, “CredAvenue’s platform can provide institutional investors access to larger liquidity pools at market-efficient rates and faster transaction times. Also, with its easy access and the right information, the platform is facilitating larger participation of retail investors in the corporate debt market, which is driving financial inclusion in the fixed income category and is an enabler for the national economic direction in the much-needed deepening of the bond markets in India.”