Indifi Technologies, an online lending platform, has raised Rs 35 crores from IndusInd Bank in debt financing.
“These funds were deployed through a Rs 35 crore of term loan from IndusInd bank’s impact investing group to Riviera Investors Private Limited which is Indifi’s in-house Non-Banking Financial Company (NBFC) arm,” according to PTI.
Indifi said, “The funds will be used for onward lending to small businesses (Micro, Small and Medium Enterprises) to accelerate post-COVID economic recovery.”
Co-founder and COO at Indifi Technologies – Siddharth Mahanot, commented in a statement, “We are extremely thankful to the US International Development Finance Corporation (DFC) and IndusInd Bank for this facility which comes to us at the right time and helps us in our goal of extending debt financing to underserved MSMEs who are recovering from the COVID impact,”
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