- Seeks to enhance access to debt financing for MSMEs, and improve the time-to-disbursal to under 4 days
New Delhi, 30th September, 2015 – Indifi TechnologiesPvt, Ltd., an enabler for SME funding in India was launched today.The company streamlinescredit assessment processes through automated data collection, processing and analysis. Itaims to solvecredit access issues for small businesswhile providing a zero operating cost model for lenders.
The unique concept of Indifi has beeninitiated and implemented by three co-founders: Mr. Alok Mittal, Mr. Siddharth Mahanot and Mr. Sundeep Sahi, who come from diverse fields of finance, business and technology.
Commenting on the launch, Alok Mittal, Co-founder and CEO, Indifi Technologies said – “MSMEs contribute to nearly 38% of the country’s GDP, but at the same time, suffer from $380B formal debt financing gap.Proliferation of data in this space has created a unique opportunity to address this gap. At Indifi, we collect demographic, businessand financial data, and analyze it to assist these businesses in securing credit from banks and NBFCs. Backed by innovation and technology, we seek to improve access, reduce the overall credit operations cost by 50-60%, and enable disbursements within a mere 4 days from application.”
Indifi takes a segment specific approach, where in the product design and data models are designed with deep understanding of needs a segment. Lending products in any given segment are tightly integrated with the business cash flows and transactional linkages in that segment. Currently, Indifi is live in three business segments across travel, transportation and retail sectors.
The company’s business model revolves around a fee for services provided to lenders – from marketing, to data collection and analysis, and on-ground documentation and verification. Indifi also assistsinstitutions in monitoring the possible risk of default onan ongoing basis by analyzing transactions undertaken by such borrowers over the life of the loan. In a short period since its inception, Indifi now already works with two financial institutions who lend through the Indifi platform.
Indifi is a Gurgaon based platform for enabling debt-financing for small businesses. It further aims to substantially improve the experience that borrowers get in terms of speed of approval and disbursement, convenience of the loan process, relevance of the loan product to their business needs, and finding the best rates in the market.Driven by the idea of establishing or automating SMB financing in India, Indifi has emerged as an enabler for start-ups and small businesses to seek seamless access to funding.
Indifi is backed by top-tier venture capital firms – Accel Partners and Elevar Equity. Mr. Pramod Bhasin, Founder and former President & CEO of Genpact, is an investor and advisor to Indifi. Other angel investors include RajanAnandan, Gaurav Dalmia, Abhishek Goyal, GaganHasteer, and ArunTadanki.