Gurugram-based Indifi Technologies raises ₹145 cr in series C from CDC Group, Accel, others

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Indifi Technologies, a debt-financing startup, based out of Gurugram, has raised ₹145 crore in Series C funding led by CDC Group, cited yourstory. While, other participants in the round chaired Fair Finance LLC, Omidyar Network, Elevar Equity, and Accel.

According to the company, CDC Group has invested Rs 100 crore for 71,08,870 Series C compulsorily convertible preference shares (Series C CCPS) and 100 equity shares, each at a price of Rs 140.67.

Whereas, Omidyar Network and Fair Finance Fund have infused Rs 10.39 crore each, and Accel and Elevar poured in Rs 23.22 crore Rs 99.1 lakh, respectively.

Importantly, the company aims to utilise the funds for expansion and modernisation of existing business, diversification into new areas of business, development of infrastructure for future growth, capital expenditures, working capital requirements, repayment of debts and other general corporate objectives in the foreseeable future, reveal the filings.

Indifi was founded by Alok Mittal, Siddharth 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.

 

Some of the significant startups in the similar domain includes LendingKart, CreditVidya, InCred, Cash Suvidha, Zest Money, among others.

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