Founded in 2015
Initial investment in 2015
Board member: Sandeep Farias
'Indifi is helping MSMEs thrive and grow by providing a technology based platform to bridge the critical financing gaps faced by this segment'
Indifi is transforming the lending process for MSME borrowers in India by automating traditional information gathering and underwriting processes and making it more effective and relevant to institutional lenders. These interventions significantly reduce the turnaround time for disbursals and improve accessibility to institutional credit for MSME borrowers. Indifi’s business model also leverages recent market trends in India like e-commerce and has the potential to unlock deep clusters of underwriting relevant data that remains disaggregated, enabling access to capital for MSMEs.
Indifi focuses on Indian MSMEs that are vendors for fast growing segments such as travel/e-commerce, online B2B marketplaces and other small scale retailers or traders. MSME revenues are informal in nature and they lack access to collateral. Due to these constraints, they are unable to avail of institutional credit and therefore depend on expensive and untimely credit from unsecured lenders. Indifi’s ability to extract MSME credit data from traditional sources (i.e. bank statements, financial statements) and transactional data from offline and online aggregators enables the creation of a credit profile for these MSMEs, making them more accessible to institutional lenders.
65% of MSME borrowers in India do not have access to institutional credit.
Alok Mittal, Founder and CEO, is a serial entrepreneur and an active venture investor with over 20 years of experience across technology and venture investing. Before Indifi, he led the Indian operations of Canaan Partners where he oversaw investments across technology, microfinance, digital commerce and online media sectors. Earlier, he co-founded JobsAhead.com, an e-recruitment business focused on the Indian market, which was acquired by Monster.com.
Siddharth Mahanot, Founder and COO, has over 15 years of experience in underwriting and credit risk management across leading banks and NBFCs such as Citibank, ICICI Bank, Edelweiss and Indiabulls. Before Indifi, he was the Risk Head at Edelweiss for the entire retail finance vertical. He spent over 7 years with Citibank and was the Credit Head for the Retail SME Business.
Sundeep Sahi, Founder and CTO, is a tech geek with over 16 years of experience in product management, technology leadership, mobile internet and internet marketing across firms such as BSB, Clickable, Microsoft and Talisma. He holds 3 engineering patents in distributed systems. His most recent position was as the Chief Product Officer of BSB portal – a JV between Bharti Enterprises and Softbank Corp.