Indifi secures $8.3m to expand MSME lending

By Milan Rojan

Indian digital lending platform Indifi is raising approximately $8.3 million in fresh funding, led by existing investor ICICI Venture, to strengthen its lending platform, expand credit access for SMEs and support future business growth.

The funding round was led by ICICI Venture, while participation was secured from existing investors British International Investment (BII), Accel India and Parul Alok Mittal. ICICI Venture has committed approximately $3.1 million, while BII, Accel India and Parul Alok Mittal have invested around $2.9 million, $1.5 million and $950,000, respectively. The transaction has valued Indifi at approximately $149 million, broadly in line with its previous fundraising.

Founded in 2015, Indifi has developed a technology-led lending platform focused on improving access to credit for micro, small and medium-sized enterprises (MSMEs). Through partnerships with banks and non-banking financial companies, the platform has simplified loan origination, has streamlined digital underwriting and has enabled faster access to financing for underserved businesses across multiple sectors.

To date, Indifi has facilitated more than 150,000 loans across over 400 cities through partnerships with more than 80 lending institutions. The platform has supported businesses operating across retail, travel, hospitality, trading and other sectors, while its digital credit assessment capabilities have strengthened lending efficiency and have widened financial inclusion for SMEs.

Following the transaction, British International Investment has remained the company’s largest external shareholder with a 17.1% stake. India Advantage Fund S5 I has held 15.33%, while Accel India IV (Mauritius) has retained 10.94%.

For FY25, Indifi has reported operating revenue of approximately $38 million, compared with $31 million in the previous year. The company has also recorded a net loss of around $4.8 million, reflecting continued investment in technology, lending capabilities and long-term business expansion.

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