Indian mid-market lender Vivriti Capital has secured an additional $30m in the second close of its Series C funding round from TVS Shriram Growth Fund 3, a home-grown private equity fund managed by TVS Capital.

The initial tranche of the financing round, which took place this March, saw the firm raising $55m from existing investors Lightrock and Creation Investments.

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The firm has raised close to $200m in external funding till date.

The fresh capital will be allocated between Vivriti Capital and its subsidiary Vivriti Asset Management, which focuses on closed-ended debt funds investing in mid-sized corporates.

Vivriti Capital and Vivriti Asset Management founder and CEO Vineet Sukumar said: With this investment from TVS Capital, we are bringing to our cap-table an extremely aligned partner with expertise and a long-term commitment towards the Indian fintech space.”

“We have been profitable since the first year of inception, and our delinquency rates are less than 0.3%,” Sukumar added.

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Vivriti aims to bring regional and global investors to mid-sized enterprises while utilising the global market for capital to propel its business expansion.

The firm also intends to bolster the technology stack to support customer acquisition, product delivery and portfolio management.

TVS Capital chairman and managing director Gopal Srinivasan said: “The Indian debt markets are poised to deepen, driven by growth of credit to the financially under-served segments, where Vivriti has thrived in terms of growing its loan book while maintaining the best-in-class asset quality.”

Recently, India-based multi-family office and wealth advisory firm Waterfield Advisors raised $6m in series B funding to boost its growth.