Indifi raises Rs 340 crore in equity and debt funding

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Sushmita Goswami | Nov 25, 2021 | Views 9757

Indifi raises Rs 340 crore in equity and debt funding

Indifi raises Rs 340 crore in equity and debt funding

Indifi Technologies, a digital financial services firm, announced on Wednesday that it has raised Rs 340 crore in capital, including Rs 140 crore in equity funding from CX Partners and OP Finnfund Global Impact Fund I.

Indifi Technologies raised 140 crore in a series D round of equity capital from CX Partners and OP Finnfund Global Impact Fund I (the first Finnish global emerging markets impact fund), as well as existing investors CDC Group (the UK’s development finance institution), Omidyar Network, Flourish Ventures, Elevar Equity, and Accel, according to a statement.

The Gurugram-based firm has also secured debt funding worth Rs 165 crore from Vivriti, Northern Arc, SIDBI, and other lenders, according to the statement.

Indifi has also been guaranteed Rs 35 crore in finance from the US DFC (United States International Development Finance Corporation). Indifi’s total equity money raise to date is above Rs 350 crore, thanks to the series D round.

Indifi also stated that it is in advanced talks with a few global funds about participating in the series D raise. Indifi is an online lending platform that provides business loans to micro, small, and medium-sized firms (MSMEs) with restricted access to bank credit.

Indifi provides customised loans for businesses in the travel, hotel, e-commerce, restaurant, trading, and retail industries. Indifi is an online lending platform that provides business loans to micro, small, and medium-sized firms (MSMEs) with restricted access to bank credit.

The cash received will be utilised to better serve consumers, identify new MSMEs, and invest in technology and product development.

“Despite the fact that India has a large number of MSMEs, the majority of them do not have access to capital. Indifi works to solve this problem by collaborating with over 100 data partners and a select group of top financial institutions to provide freely available loans via the internet and to assist businesses in their growth.

For example, Indifi CEO and co-founder Alok Mittal remarked, “Our latest relationship with Facebook digitally enables MSME players to access small ticket size loans to build their enterprises.” Indifi is filling a critical gap in the Indian lending landscape, according to Manu Sahni, Managing Director at CX Partners, by relying on data and integrating with anchor digital ecosystems and financial institutions to provide loans to small merchants and businesses using technology to bypass constraints of traditional MSME lending.

Indifi is filling a critical gap in the Indian lending landscape, according to Manu Sahni, Managing Director at CX Partners, by relying on data and integrating with anchor digital ecosystems and financial institutions to provide loans to small merchants and businesses using technology to bypass constraints of traditional MSME lending. “We see Indifi pushing new limits in financial services, which is a focus industry for CX,” Sahni noted.

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