Indifi raises ₹340 crore in equity and debt funding
Indifi, an online lending platform, announced on Wednesday that it had funded 340 crore in a Series D round that included a combination of equity and debt.Indifi Technologies, a digital financial services business, has raised Rs 340 crore in its Series D fundraising round.According to the company, the fundraising includes a Rs 140 crore equity component led by CX Partners and OP Finnfund Global Impact Fund I, as well as Rs 200 crore in loan financing from Vivriti, Northern Arc, SIDBI, and other lenders.
According to the company, it may expand its Series D round by obtaining further funds.Indifi said in a statement that the funds will be used to serve more customers, identify additional segments of micro, small, and medium-sized enterprises (MSMEs), and develop technology and products.The company has now raised a total of Rs 350 crore in equity finance through this round.”Despite the fact that India has a large number of SMEs, the majority of them do not have access to capital. “At Indifi, we address this challenge by collaborating with over 100 data partners and a few top financial institutions, providing conveniently available loans digitally, and assisting businesses in growing,” stated Alok Mittal, CEO and cofounder of Indifi Technologies.
Indifi provides business loans to MSMEs in a variety of industries, including travel, hotels, e-commerce, restaurants, trading, and retail.According to Manu Sahni, managing director of CX Partners, the company is filling a critical gap in the Indian lending landscape by providing loans to small merchants and businesses using technology to bypass the constraints of traditional MSME lending through reliance on data and integration with anchor digital ecosystems and financial institutions.
“As a market leader, Indifi enables lenders and borrowers to participate and transact in a frictionless manner,” he added.”As a market leader, Indifi enables lenders and borrowers to participate and transact in a frictionless manner,” he added.According to Indifi, India has over 63 million MSMEs, with the majority of them facing microcredit issues, making it difficult to manage and satisfy working capital needs efficiently.”With this investment, Indifi will be able to expand its services to the Indian MSME sector, which is crucial for economic development and job creation,” stated Tuomas Virtala.
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