Digital Financial Services Firm Indifi Raises 340 Crore In Equity And Debt Funding

2020 and 2021 have been pitted against each other – while the previous year had a negative impact on several industries, this year was good for the startup ecosystem in India. Not only have many startups raised record capital from investors (domestic and global), but dozens of startups have achieved coveted unicorn status.

One of the fastest growing sectors has been the fintech sector. This time around, digital financial services firm Indifi Technologies raised 340 crore in a mix of equity and debt as part of its D-series cycle.

The funding round consists of equity financing of 140 crore from investors CX Partners and OP Finnfund Global Fund I, and 200 crore in debt financing from Vivriti, Northern Arc, SIDBI, United States International Development Finance Corporation and others. The company has raised 350 crore in total equity funding to date.

According to the company, which is already in talks with global funds to raise more capital and extend its D-Series cycle, the product will be used to serve more customers, identify additional segments of MSMEs and for the development of technologies and products.

Problems of credit, adequate financing and access to financial institutions persist even as the government works towards a digital India. Most MSMEs operating in the world’s second largest Internet market (63 million in total) do not have access to finance and effectively manage and respond to working capital needs. This is where Indifi comes in with its online lending platform, offering tailored business loans to MSMEs in industries such as travel, hospitality, e-commerce, foodservice, commerce and retail. .

The startup works with over 100 data partners and a few top financial institutions, providing easily accessible digital loans and helping businesses grow. “Our recent collaboration with Facebook enables MSME players to digitally benefit from small loans to grow their businesses,” said Alok Mittal, CEO and co-founder of Indifi.

“The company fills a critical gap in the Indian lending landscape by providing loans to small traders and businesses using technology to bypass the constraints of traditional lending to MSMEs by leveraging data and integration with digital ecosystems and anchor financial institutions, said Manu Sahni, managing director. , CX Partners.

Source link

About Scott Conley

Check Also

Hartford Financial (HIG) sells browsers to Premia Holdings

The Hartford Financial Services Group HIG recently sold its company Navigators Holdings (Europe) NV and …