PE Fund Investments
MSME lender Indifi raises $35-M led by ICICI Venture
Gurugram-headquartered Indifi Technologies, a digital platform for lending to the MSME (micro, small and medium enterprises) sector, has raised INR 290 crore (about USD 35 million) in its Series E funding round. ICICI Venture led the round with participation from existing investors including British International Investment (BII), OP Finnfund Global Impact Fund I, Omidyar Network India, Flourish Ventures and CX Partners. Indifi will use the fresh capital to expand operations and enhance presence in the market. The focus will be on developing new products which will allow the firm to serve more underserved segments of the MSME sector. Indifi claims to have disbursed over 73,000 loans across 400+ cities, amounting to a total disbursement value of over INR 4100 crore.
From the Venture Intelligence PE-VC Deal Database: Between Oct-15 and Nov-12, Indifihad raised over USD 61 M from investors including Finnfund, Flourish Ventures, Elevar Equity, CX Partners, Omidyar Network, Accel India, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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