wordpress blog stats
Connect with us

Hi, what are you looking for?

Indifi Technologies raises $10M to expand products & tech

loans

Indifi Technologies has raised $10 million in a Series B funding led by Omidyar Network, while existing investors Accel Partners and Elevar Equity participated in the round. The Gurgaon based MSME financing company will use the funds on its products and technology.

Indifi will also use the funds for its financing travel, ecommerce, retail and hotel segments which it branched into. This will include adding products, customer experience tweaks and working on its data and credit models.

Indifi was launched last October by Alok Mittal (CEO), former India chief of Canaan Partners, along with Siddharth Mahanot (COO) and Sundeep Sahi (CTO). At the time, it got investments from Pramod Bhasin and Rajan Anandan and was focused on travel, transport and retail segments for financing. It charges a fee for services like marketing, data collection and analysis, and on-ground documentation and verification to lenders. Disbursals of loans range from Rs 5 – 50 lakh.

Note that online cab aggregator Ola has a partnership with Indifi along with other companies where it offers its drivers personal loans and vehicle insurance.

Developments in the online lending space:

– Last month, Lendingkart acqui-hired KountMoney, an online lending marketplace for personal loans for its data analytics and technology capabilities. Lendingkart has raised a total ~ $41 million so far and has deals with CCAvenue, Paytm, Craftsvilla and Flipkart.
– In the same month, BankBazaar tied up with Truecaller to let Bankbazaar users sign up with Truecaller instead of Facebook or Google. In July last year, BankBazaar raised $60 million in funding led by Amazon.
– In September, Tolexo, an online B2B marketplace for business goods, tied up with Arthashastra FinTech to provide credit buying features to merchants to buy inventory and get interest free credit for a period of 7-23 days.
– In August, Mumbai-based Fintech startup LoanTap raised $3 million in a Series A round of funding from HNIs for lending, upgrading the company’s technology platform and expanding operations.
– In July, Deal4loans raised $15 million. Deal4loans aggregates, markets and facilitates the sale of loan products and credit offerings from banks and financial institutions.
– In May, Capital Float raised $25 million in a series B round of funding.
– In April CreditMantri raised Series A funding worth $2.5 million.

You May Also Like

News

Paytm has hived off its payment gateway business into a separate entity, Paytm Payments Gateway Service Pvt Ltd, and has infused ₹100 crore worth...

News

Restaurant aggregator and food delivery company Zomato has raised US$660 million (over ₹4,850 crore), taking its valuation to ₹3.9 billion. CEO Deepinder Goyal tweeted...

News

The Securities and Exchange Board of India (SEBI) will now allow investors to make UPI payments to purchase public issues of debt securities, it...

News

The Indian government has amended the internet shutdown rules, formally known as the Temporary Suspension of Telecom Services Rules, to restrict the validity of...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ