indifi: Indifi raises Rs 340 crore in equity and debt financing
While CX Partners and OP Finnfund Global Impact Fund I (the first Finnish impact fund in global emerging markets) as well as existing investors CDC Group (the UK’s development finance institution), Omidyar Network, Flourish Ventures, Elevar Equity and Accel, invested Rs 140 crore in in a Series D funding round, Indifi also secured debt financing of Rs 165 crore from Vivriti, Northern Arc, SIDBI and other lenders . In addition, US DFC (United States International Development Finance Corporation) has guaranteed Rs. 35 crore in funding to Indifi.
Indifi operates an online lending platform that offers commercial loans to micro, small and medium enterprises (MSMEs) who have limited access to credit from financial institutions.
Funds raised will be used to serve more clients, identify additional segments of MSMEs and for technology and product development.
India is home to around 63 million MSMEs, and the majority of them face microcredit issues, making it difficult for them to manage effectively and meet working capital needs. Indifi solves this problem by offering new products in existing sectors or entering new sectors with a basic offering.