Indifi Technologies

Indifi Technologies

India's Indifi Technologies is a tech-enabled debt financing platform for small business with industry-specific financial solutions.

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.

Funding

Seed

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.

Series B

Announced in October 2016, Indifi Technologies raised $10 million. Omidyar Network led the round which saw participation from Accel Partners and Elevar Equity.

Series C

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.

Timeline

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Indifi funding round, August 2019
450,000,000
August 2019
2 Results
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People

Name
Role
LinkedIn

Alok Mittal

MD & CEO

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

August 29, 2018

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Sai Ishwar
June 13, 2020
@bsindia
Lenders are looking at innovative lending terms such as cash conversion cycle and revenue-linked repayment models to reduce their risks

References

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