Founded in 2015 by Alok Mittal, Siddharth Mahanot and Sundeep Sahi, Indifi Technologies offers an online credit-financing platform for small businesses. Indifi finances some loans and works as a marketplace for banks and non-banking financial companies. They offer loans from $1,400 to $70,00, and their typical loan is $7,000.
Indifi provides term loans, lines of credit, invoice discounting and merchant cash advance services. They focus on travel, e-commerce, retail, restaurant and hotel industries. In 2017, Indifi partnered with Swiggy to provide loans to partner restaurants.
To assess the risk of loans, Indifi works with large segment data aggregators to analyze a company based on their industry specific risk. For example, travel agencies face volatility risk whereas restaurants face closure risk. This analysis allows Indifi to lend to businesses who have no credit history.
In October of 2015, Indifi Technologies announced the conclusion of their Seed Round for an undisclosed amount. Investors in the round included Accel Partners, Elevar Equity, Prmod Bhasin, Rajan Anandan, Gaurav Dalmia, Abhishek Goyal, Gagan Hasteer and Arun Tadanki.
Announced in October 2016, Indifi Technologies raised $10 million. Omidyar Network led the round which saw participation from Accel Partners and Elevar Equity.
In July 2019, Indifi Technologies raised $21 million. CDC Group led the round which included investors Accel India, Omidyar Network, Fair Finance Fund and Elevar Equity.
Indifi Technologies raises a $450,000,000 series C round from Omidyar Network, Accel Partners, Elevar Equity, Flourish Ventures and CDC Group.
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August 29, 2018