New Delhi: Indifi Technologies, one of India’s leading MSME lending platforms, has achieved the milestone of over 200% YoY growth in loan amount disbursed via partner lenders in Dec 2021. In addition to that Indifi also registered a 100% growth in the number of loans disbursed from Dec’2020 to Dec’2021. During this period Indifi has also doubled its lending partners and has demonstrated the highest collection efficiency in the last 12 months which is highest in the history of the company. Sustaining this growth momentum, Indifi aims to grow its lender partnership-led business by 100%+ in 2022 and onboard at least 3 new lending partners in Q1’22 itself, including a marquee private bank and public sector banks.
These numbers are the culmination of multiple factors. Indifi has a unique ecosystem-based approach to lending which allows it to bring synergies within the demand and supply partners. Indifi leverages partnerships with leading tech aggregators like Zomato, Amazon, Swiggy, Facebook, etc) to enable embedded lending solutions for the underserved, yet credit-worthy small business owners registered on their platform. This allows lenders on Indifi’s platform business to integrate once and get access to over 50 small business ecosystems increasing their reach within high volatile segments and smaller cities which they would’ve otherwise not serviced. And with its data-driven underwriting and collection offerings Indifi has generated high collection efficiencies for its lending partners even during the pandemic. Indifi has enabled end to end digitized origination, data analytics, credit modeling and collections, building immense trust in its future-ready and customer-centric solutions within its lending partners.
Commenting on this milestone, Siddharth Mahanot, Co-founder & COO, Indifi Technologies, shared, “We at Indifi are committed to solving credit accessibility for 65+ million MSMEs in India and we know technology and data is the fastest way to do so. As a platform, we seek to bridge the gap between the historically underserved MSMEs and the lenders. Through partnerships at both the demand and supply sides of the lending spectrum, we are able to harness the low-cost capital sitting with lenders as well as leverage technology and MSME data sitting in ecosystem platforms to break the lending barriers for MSMEs. It’s this digital-first and data driven strategy that helped unlock these growth numbers despite the ongoing pandemic.”
Indifi’s deeply verticalized& segment-specific underwriting/account management approach also helps assess the differential impact of COVID-related disruptions across borrower segments. This helps lenders identify a pivot towards segments & borrower profiles of choice. Secondly, the mobility constraints due to the pandemic resulted in MSME borrowers seeking presence-less modes for meeting their credit needs. Indifi has extended the comfort of completely digital lending for borrowers with features such as CKYC/OKYC, E-Sign, Video Sign, E-NACH etc, further sustaining disbursement volumes. Deep tech integrations with lenders have resulted in reduction in manual intervention and automated processes like agreement sharing, offers, and even the revised offers which has delivered a seamless borrowing experience to the MSME customers.
Currently, Indifi has nine lenders active on the platform which are a mix of banks, NBFCs, and P2P lenders. Five of these lenders including DMI Finance, Caspian Impact Investment, Ugro Capital have been onboarded in 2021 and have scaled rapidly. Indifi has been successful in facilitating access to capital to MSMEs in segments like ECommerce, retail, restaurants, and more across 400+ cities. Most of these vendors sit in Tier 2 and Tier 3 cities including women entrepreneurs that are otherwise geographically and analytically inaccessible to traditional lenders.
