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Indifi Technologies raises $21 million in series C funding

Indifi technologies, which is a debt financing startup based out of Gurgaon, has secured INR 145 crore in the funding round of Series C led by the CDC Group while some other participants in the round include the Accel, Elevar Equity, Fair Finaance LLC, Omidyar Network.

According to the company report, CDC Group has invested around INR 100 crore for 710000 convertible shares and 100 equity shares, each at the cost of INR 140.67.

The company as of now has a plans to use the funds to utilize the funds for modernization and expansion of existing business, diversification into some of the new areas of business, capital expenditures, repayment off debts, development of infrastructure for future growth and working capital requirements.

Indifi was founded by the Sundeep Sahi, Alok Mittal and Siddharth Mahanot in the year 2015. It provides the term loans, invoice discounting, line of credit, and merchant cash advance services to small business in categories such as hotel, travel, restaurant, trading, eCommerce, and retail.

Source: Indifi

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