Gurugram-based Indifi bags ₹145 cr in series C round from CDC Group, Accel Partners, others

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Indifi, a Gurugram-based fintech startup has bagged ₹145 crore in a series C equity round led by CDC Group, the development finance arm of the UK government.

While, investors such as Omidyar Network and Elevar Equity, and venture capital firm Accel Partners, also participated in the round.

“Like all fintech startups, we were also hit by the NBFC crisis, and are the first small and medium business fintech lender to raise external funding in the past year,” said Alok Mittal, co-founder and chief executive, Indifi.

Significantly, the funding has come at a moment when domestic lenders have been bogged down by a severe liquidity crunch.

Indifi was founded by Alok MittalSiddharth Mahanot and Sundeep Sahi in 2015. The company facilitates SME lending with a focus on customer-produce fit.

It provides term loan, line of credit, invoice discounting, and merchant cash advance services to small businesses in categories such as travel, hotel, ecommerce, restaurant, trading, and retail. It currently has 300 crore of assets under management.

“We plan to use the funds raised to increase the share of the marketplace mode, which currently contributes about half of our business. We will also look to lend to newer sectors, such as trucking and logistics, where growth capital is needed,” Mittal further said.

Some of the significant startups in the similar domain includes LendingKartCreditVidyaInCredCash SuvidhaZest Money, among others.

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