Indifi Technologies, a homegrown fintech startup, is on a mission to assist small companies develop with seamless, well timed and customised entry to credit score. Its a digital lending platform that gives loans to underserved, but credit-worthy companies. This is made potential by protecting expertise on the core of its enterprise. By harnessing the facility of AI, analytics, and machine studying, Indifi circumvents challenges that conventional lenders face.

“In the beginning, we focused on getting our foundation and key offerings right, only then did we look to scale,” says Alok Mittal, co-founder & CEO, Indifi Technologies. “So far, we have been able to disburse 63,000+ loans to 30,000+ MSMEs in 450+ cities. Our disbursals continue to grow m-o-m and we have crossed Rs 1,400 crore AUM. Out of all the loans disbursed, 30% have been to businesses that are new-to-credit, and 20% were disbursed to women entrepreneurs. So far, we have onboarded around 80+ ecosystem partners and 20+ lending partners, this helps us further our mission of financial inclusion through timely, affordable and accessible credit,” reveals Mittal.

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The MSME sector with its massive market dimension has been and can proceed to be integral to the expansion story of India. According to Mittal, the general credit score hole within the MSME sector right here is Rs 25 trillion. Traditional lenders have a set set of necessities that an MSME should meet for them to be eligible for credit score, that is judged by years of operations, ITRs, credit score historical past and many others.

Indifi was established in 2015 when it grew to become clear that these key issues could be solved with using expertise and the digital revolution and allow credit score for the underserved MSMEs. “Our mission has been unwavering since the inception of Indifi, we will continue working towards driving inclusion of underserved MSMEs. This will be done by doubling down on our technology processes and strengthening our core offering to ensure seamless digital customer journey, underwriting at a business level, and faster disbursals ,” says Mittal.

On the corporate’s financials, Mittal factors out, “We have executed 4 rounds of institutional funding from Accel, Elevar, Omidyar Networks, CDC, CX Partners, and Finnfund, with the collection D of $26 million in November, 2021.

EVERYTHING IS DIGITAL

Technology has been on the entrance and centre of Indifi’s operations. “It is through this that we seek to drive credit inclusion, we do not have a feet-on-street model,” says Mittal. “The credit journey of our customers is entirely digital, from the time that they make the decision to apply for a business loan to when the amount reaches their account. This means they can do the entire exercise from the comfort of their homes/ offices without stepping out.”

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Indifi has lengthy standing partnerships with main digital ecosystems throughout segments (E-commerce, retail, meals, journey, funds and many others) and subsequently deep integrations in its system that permit the corporate to accumulate alternate information units. “These information units are what permit us to serve underserved MSMEs, as they offer us data that may permit us to evaluate the chance and creditworthiness of a enterprise. Our underwriting can be executed by way of machine studying capabilities and a proprietary underwriting algorithm that’s based mostly on 5000+ information factors. Moreover, we undertake the most recent expertise integrations like Account Aggregator, E-KYC and ENACH

to make buyer journeys as seamless as potential,” Mittal reveals.