Indifi raises Rs 145 crore in Series-C funding led by CDC Group

NEW DELHI: SME focused lending platform Indifi Technologies has raised Rs 145 crore Series C funding round, led by UK government owned development finance institution CDC Group.

Existing investors including Accel, Elevar Equity, Omidyar Networks and Flourish Ventures also participated in the round. Commenting on the funding round, Alok Mittal, MD & Co-founder, Indifi Technologies, said, “The funds raised will be used to diversify into new verticals, develop technology and data infrastructure for future growth, and expand our service offerings to our customers.”

In a statement, Srini Nagarajan, Managing Director and Head of Asia at CDC Group, said, “Our investment will support Indifi to increase its SME lending multifold over the next five years, including customers that are harder to reach and otherwise wouldn’t have access to growth finance’.


Nearly 80% of India’s MSME enterprises still depend on informal sources to meet their funding requirements, with high-interest rates, rigid payment cycles and limited amount of fund availability being the major inhibitors. Various studies show that there is an addressable credit gap of $397 billion in the sector.