Want a loan for your SME? Check out Indifi Tech, this lending platform just bagged Rs 145 cr in funding

Indifi Technologies, India’s leading SME focused lending platform, has completed a successful Rs 145 crore Series C funding round. The investment has been led by UK government owned development finance institution CDC Group. The already existing investors of the company including Accel, Elevar Equity, Omidyar Networks and Flourish Ventures also participated in the round. CDC is one of the leading investors in India right now with total investments of over $1.7 billion across country over the last 30 years. According to Indifi, it is committed to changing the current situation where most small businesses are struggling to get loans. 
 
Indifi believes that the latest round of funding and backing from CDC will allow it to access new local markets and verticalize further, increasing both coverage as well as offerings - which are among the prime areas where the platform plans to utilize the funds raised.
 
"CDC’s investment validates our business model and further augments our operational capabilities. Indifi is committed to facilitating access to credit for the 65 million Indian MSMEs, and CDC’s expertise and network will help us build a robust and responsible business. The funds raised will be used to diversify into new verticals, develop technology and data infrastructure for future growth, and expand our service offerings to our customers," Alok Mittal, MD & Co-founder, Indifi Technologies, said.

About 80 per cent of MSMEs in India still depend on informal sources to meet their funding requirements, with high-interest rates, rigid payment cycles and limited amount of fund availability being the major inhibitors. Indifi aims to fill that gap by making credit easily accessible to these businesses that are often considered risky by the formal sector.

"Backing India’s leading SME lending platform fits in well with CDC’s core strategy to improve people’s lives. Our investment will support Indifi to increase its SME lending multifold over the next five years, including customers that are harder to reach and otherwise wouldn’t have access to growth finance’. Its market leading digital platform advancing product design for customers; responsibly supporting the growth of thousands of SMEs, generating income for families and their local communities across India," Srini Nagarajan, Managing Director and Head of Asia at CDC Group said.