Indifi Technologies, a Gurgaon, India-based enabler of micro, small, and medium enterprises (MSME) financing in India, raised $10m in Series B funding.
The round was led by philanthropic investment firm Omidyar Network, with participation from existing investors Accel Partners and Elevar Equity.
The company intends to use the funds to enhance its products and technology and improve its offerings across travel, e-commerce, retail, and hotel segments.
Led by Alok Mittal, CEO and co-founder, Indifi Technologies enables micro, small, and medium enterprises (MSME) to obtain loans via access to multiple lenders and a streamlined experience that borrowers get in terms of speed of approval and disbursement, relevance of the product to their business needs and rates. The platform works by collecting data and analyzing it from disparate sources in order to strengthen credit quality and streamline the loan approval process with lenders.