Business News This Week
The unique concept of Indifi has been initiated and implemented by three co-founders: Mr. Alok Mittal, Mr. Siddharth Mahanot and Mr. Sundeep Sahi, who come from diverse fields of finance, business and technology.
Commenting on the launch, Alok Mittal, Co-founder and CEO, Indifi Technologies said – “MSMEs contribute to nearly 38% of the country’s GDP, but at the same time, suffer from $380B formal debt financing gap.Proliferation of data in this space has created a unique opportunity to address this gap.
At Indifi, we collect demographic, business and financial data, and analyze it to assist these businesses in securing credit from banks and NBFCs. Backed by innovation and technology, we seek to improve access, reduce the overall credit operations cost by 50-60%, and enable disbursements within a mere 4 days from application.”
Indifi takes a segment specific approach, where in the product design and data models are designed with deep understanding of needs a segment. Lending products in any given segment are tightly integrated with the business cash flows and transnational linkages in that segment. Currently, Indifi is live in three business segments across travel, transportation and retail sectors.
The company’s business model revolves around a fee for services provided to lenders – from marketing, to data collection and analysis, and on-ground documentation and verification. Indifi also assists institutions in monitoring the possible risk of default on an ongoing basis by analyzing transactions undertaken by such borrowers over the life of the loan. In a short period since its inception, Indifi now already works with two financial institutions who lend through the Indifi platform.
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