Total amount raised
$116.5 Million
Latest funding date
06/01/2023
Location
Indifi Technologies has successfully raised funds through seven different funding rounds, with the latest being a Series E round. The company leverages a technology platform to provide data-driven loans and connect small businesses with multiple lenders.
With a diverse range of loan products and a focus on quick disbursal, Indifi Technologies aims to empower small businesses across various industries. Keep reading to explore the intricacies of Indifi's fundraising journey and the investors backing this innovative platform.
What Is Indifi Technologies?
Indifi Technologies, based in Gurgaon, Haryana, India, is a private company specializing in finance, financial services, and lending. The company employs between 501 and 1000 people and leverages a technology platform to provide data-driven loans to small businesses.
Indifi offers a variety of loan products, including Term Loans, Line of Credit, Invoice Discounting, and Merchant Cash Advance, tailored for industries such as Travel, E-Commerce, Hotels, Restaurants, Retail, and Startups. The platform aims to bridge the credit gap for small businesses by connecting them with multiple lenders.
How Much Funding Has Indifi Technologies Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial technology platform.
- Series B
- Amount Raised: USD 10,000,000
- Date: December 2016
- Lead Investors: Omidyar Network India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's lending operations and enhance its technology platform.
- Series C
- Amount Raised: USD 21,000,000
- Date: July 2019
- Lead Investors: British International Investment, Tracxn Labs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets within India.
- Debt Financing
- Amount Raised: INR 350,000,000
- Date: March 2021
- Lead Investors: IndusInd Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's lending capacity and meet growing demand.
- Debt Financing
- Amount Raised: INR 2,000,000,000
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand lending operations and enhance financial stability.
- Series D
- Amount Raised: INR 1,400,000,000
- Date: November 2021
- Lead Investors: CX Partners, Finnfund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop new lending products and expand customer access.
- Series E
- Amount Raised: INR 2,882,995,500
- Date: June 2023
- Lead Investors: ICICI Venture
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance market presence.
Indifi Technologies has raised a total of USD 85,000,000. The current valuation is not publicly disclosed.
Key Investors
- ICICI Venture
- Details: ICICI Venture is the investment arm of ICICI Bank, one of India's largest financial institutions. It focuses on private equity investments across various sectors.
- Investment Focus Areas: Private equity, real estate, infrastructure.
- Notable Investments: Metropolis Healthcare, GoAir, Star Health.
- British International Investment
- Details: British International Investment is a development finance institution from the UK, investing in businesses and projects in developing countries. It aims to drive sustainable and inclusive growth.
- Investment Focus Areas: Sustainable investments, renewable energy, financial services.
- Notable Investments: M-KOPA, Zambeef.
- OP Finnfund Global Impact Fund I
- Details: Managed by Finnfund, this global impact fund focuses on investments that generate social and environmental benefits in developing countries. It supports projects that contribute to sustainable development.
- Investment Focus Areas: Renewable energy, sustainable agriculture, financial inclusion.
- Notable Investments: Greenlight Planet, d.light.
- Omidyar Network India
- Details: Omidyar Network India is an investment firm focused on social impact. It supports innovative organizations that create opportunities for people to improve their lives.
- Investment Focus Areas: Digital identity, education, financial inclusion.
- Notable Investments: 1mg, Dailyhunt.
- Flourish Ventures
- Details: Flourish Ventures is a global venture capital firm investing in entrepreneurs whose innovations help people achieve financial health and prosperity. It focuses on financial services and technology.
- Investment Focus Areas: Fintech, insurtech, financial health.
- Notable Investments: Chime, Aspiration.
What's Next for Indifi Technologies?
Indifi Technologies stands at the cusp of significant growth opportunities, driven by its recent $35 million Series E funding. This capital infusion will enable the company to expand its digital lending services to more small and medium businesses across India, tapping into a vast and underserved market. The potential for growth is immense, given the increasing demand for quick and convenient financial services among MSMEs.
Future fundraising opportunities appear promising as Indifi continues to demonstrate robust growth and profitability. The company's ability to attract substantial investment from prominent backers like ICICI Venture and British International Investment underscores investor confidence in its business model and market potential. However, challenges such as regulatory changes, competition from other fintech firms, and maintaining credit quality while scaling could pose hurdles along the way.
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