India’s Indif Technologies raises $35M in Series E funding led by ICICI Venture 2023

Indifi Technologies (Indifi) raised Rs 290 Crores ($35 million) in its Series E investment round on Tuesday.

Indifi stated current investors British International Investment, OP Finnfund Global Impact Fund I, Omidyar Network India, Flourish Ventures, and CX Partners lead the round.

This cash injection will help Indifi increase its operations and market presence, according to the announcement.

They will create innovative products to benefit underserved micro, small, and medium businesses (MSME) sectors.

“This investment not only fuels our journey but also showcases the trust and endorsement of leading investors in the ecosystem,” said Indifi Managing Director and CEO Alok Mittal.

He said the business has been committed to combining technology with ground-level expertise to help MSMEs throughout India.

The startup intends to simplify credit and loan procedures for borrowers.

Indifi, created in 2015 by Alok Mittal and Siddharth Mahanot in Gurgaon, helps small businesses finance debt.

Indifi helps startups and small enterprises get money through growing MSME financing in India.

By providing the correct loan products for MSMEs, increasing risk assessment, and leveraging supply chain links, the business boosts formal lending.

Indifi’s technology platform has disbursed 73,000 loans worth over INR 4100 crore across 400+ locations.

Using technology, it provides inexpensive, fast finance to disadvantaged MSMEs.

Profitability increased after February 2022.

Growth and innovation drive scale for the organization.

Indifi has increased its solutions over the past eight years to guarantee all businesses may access formal funding that meets their needs.

Instant company loans and D2C brand working capital finance are the latest advances.

“Indifi has created a best-in-class digital technology platform for lending to the large MSME sector, enabling credit for this highly underserved segment of the Indian economy,” said Nikhil Mohta, Senior Director, Private Equity of ICICI Venture.

He believes Indifi’s ecosystem and liability partners will help it expand quickly.

“The robust governance and risk frameworks of the company inspire confidence and we are excited to partner with Indifi in its onward journey,” he said.

Indifi closed its Series D equity investment round in November 2021 with CX Partners and OP Finnfund Global Impact Fund I.

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