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B2B online lender Indifi raises Rs.53-Cr in Series D1 round from existing investors

Inc42  

Gurugram-headquartered online lending platform Indifi is raising INR 53 crore (USD 7.3 million) in a fresh round of funding. Indifi will be allotting 35,61,830 compulsory convertible preference shares (CCPS) to its existing equity shareholders. The startup is calling it a Series D1 round, arguably a bridge round before it goes on to raise Series D round. Indifi has proposed each Series D1 CCPS to be issued at a face value of INR 20 and at premium of INR 128.8. The firm's existing investors include Accel Partners, Elevar Equity, Omidyar Network, CDC Group, Rajan Anandan, and others. Last week, Facebook partnered with Indifi to provide loans to small businesses in India.