Indifi Technologies, an enabler of micro, small and medium enterprises (MSMEs) financing in India, on Tuesday said it has raised $10 million (Rs. 67.52 crore) in Series B investment.

Led by philanthropic firm Omidyar Network, established by Pierre Omidyar, who is the founder of eBay, along with the participation of existing investors Accel Partners and Elevar Equity, the funds raised in this round will be used to enhance the company’s product line-up and technology, Alok Mittal, CEO and cofounder of Indifi Technologies, said.

Indifi Technologies is present across travel, e-commerce, retail, and hotel segments. Capital raised in this series will be targeted towards improving its offerings in these verticals.

In the past, Gurugram-based Indifi Technologies has expanded its lenders’ portfolio, increasing the offering of segment-specific product and credit design, and enhanced its proprietary data analytics to strengthen credit quality.

It aims to improve the experience for borrowers in terms of speed of approval and disbursement, convenience of loan process, relevance of the loan product to their business needs, and finding the best rates in the market.

comment COMMENT NOW