Total amount raised
$116.5 Millions
Latest funding date
06/01/2023
Location
Indifi Technologies has successfully raised funds through multiple rounds, with the latest being a Series E round. The company is backed by 21 investors, including notable names like ICICI Venture and Flourish Ventures.
Keep reading to explore the intricacies of Indifi Technologies' fundraising journey and the investors supporting this innovative lending platform.
What Is Indifi Technologies?
Indifi Technologies, founded in May 2015, is a digital lending platform based in Gurgaon, Haryana, India. The company operates in the finance and financial services industry, focusing on providing loans to small businesses.
Founded by Alok Mittal, Siddharth Mahanot, and Sundeep Sahi, Indifi leverages technology to assess the creditworthiness of businesses and connect them with multiple lenders. The company employs between 501 and 1000 people.
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 kickstart the company's operations and develop its digital lending platform.
- Series B
- Amount Raised: $10M
- Date: December 2016
- Lead Investors: Omidyar Network India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's lending capabilities and reach more small businesses.
- Series C
- Amount Raised: $21M
- Date: July 2019
- Lead Investors: British International Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology platform.
- Series C
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Tracxn Labs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support the company's growth and market expansion.
- Debt Financing
- Amount Raised: ₹350M
- Date: March 2021
- Lead Investors: IndusInd Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for business operations.
- Debt Financing
- Amount Raised: ₹2B
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's lending activities and expand its loan portfolio.
- Series D
- Amount Raised: ₹1.4B
- Date: November 2021
- Lead Investors: CX Partners, Finnfund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance market presence.
- Series E
- Amount Raised: ₹2.9B
- Date: June 2023
- Lead Investors: ICICI Venture
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand digital lending services to more small and medium businesses.
Total Amount Raised: $66M
Current Valuation: Not publicly disclosed
Key Investors
- ICICI Venture
- Details: ICICI Venture is a leading private equity firm in India, known for its extensive experience in managing investments across various sectors. It is the investment arm of ICICI Bank.
- 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, focusing on investments that drive economic development and job creation in emerging markets.
- Investment Focus Areas: Economic development, job creation, sustainable development.
- Notable Investments: Airtel Africa, Greenlight Planet.
- OP Finnfund Global Impact Fund I
- Details: Managed by Finnfund, this global impact investment fund focuses on sectors that generate positive social and environmental benefits.
- Investment Focus Areas: Renewable energy, financial inclusion, sustainable agriculture.
- Notable Investments: M-KOPA, d.light.
- Omidyar Network India
- Details: Omidyar Network India is an investment firm focused on social impact, aiming to create opportunities for people to improve their lives.
- Investment Focus Areas: Social impact, financial inclusion, education.
- Notable Investments: 1mg, Dailyhunt.
- Flourish Ventures
- Details: Flourish Ventures is a venture capital firm that invests in entrepreneurs whose innovations help people achieve financial health and prosperity.
- Investment Focus Areas: Financial inclusion, fintech, insurtech.
- Notable Investments: Chime, Aspiration.
What's Next for Indifi Technologies?
Indifi Technologies is poised for significant growth, with opportunities to expand its digital lending services to a broader range of small and medium businesses (SMBs). The recent $35 million Series E funding round, led by ICICI Venture, underscores the potential for scaling operations and enhancing market presence. This influx of capital will enable Indifi to develop new products and reach underserved segments, particularly in the MSME sector.
Future fundraising opportunities appear promising, given the strong backing from existing investors like British International Investment and Omidyar Network India. As Indifi continues to grow, it may attract further investment to support its expansion and technological advancements. However, the company will need to navigate challenges such as regulatory compliance, competition from other fintech firms, and maintaining profitability while scaling operations.
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