Indifi Technologies Raises Rs 340 Crore In Series D Funding Round
11/24/21, 6:31 PM
Location
mumbai
Money raised
₹3.4 billion
Round Type
series d
Mumbai: Digital financial services company Indifi Technologies has raised Rs 340 crore in its Series D funding round.
Company Info
Location
mumbai, maharashtra, india
Additional Info
The funding includes an equity component of Rs 140 crore led by CX Partners and OP Finnfund Global Impact Fund I, and Rs 200 crore in debt financing from Vivriti, Northern Arc, SIDBI, and other lenders, the company said. The company may extend its Series D round by raising more capital, it said. Indifi will use the funds to serve more customers, identify additional segments of micro, small and medium enterprises (MSMEs), and for technology and product development, the company said in a statement. With this funding round, the company has raised Rs 350 crore in total equity financing. The company is filling a critical gap in the Indian lending landscape by providing loans to small merchants and businesses using technology to bypass constraints of traditional MSME lending through reliance on data and integration with anchor digital ecosystems and financial institutions, said Manu Sahni, managing director, CX Partners. The platform brings together partners and lenders to help previously underserved small businesses access unsecured business loans,” said Kuutti Kilpeläinen, investment manager, Finnfund.