Indifi, which is a Gurgaon based financial technology startup, has now secured INR 145 crore in the funding round of Series C led by the CDC Group, according to the report which has been revealed.
While some other investors which includes the Elevar Equity, Omidyar Network, Accel Partners also participated in the round.
“Like all fin-tech startups, we were also hit by the NBFC crisis, and are the first small and medium business fintech lender to raise external funding in the past year,” said Alok Mittal, co-founder, and chief executive, Indifi.
The funding has come at the moments when the domestic lenders have been bogged down by a severe liquidity crunch.
Indifi was founded by the Sundeep, Alok, and Siddharth in the year 2015. The company even facilitate SME lending with a focus on customer produce fit.
It offers term loan, invoice discounting, line off credit, and merchant cash advance services to small businesses in categories such as the eCommerce, hotel, travel, retail, and trading. It as of now has around INR 300 crore of assets under management.
“We plan to use the funds raised to increase the share of the marketplace mode, which currently contributes about half of our business. We will also look to lend to newer sectors, such as trucking and logistics, where growth capital is needed,” Mittal further said.
