Equipped with its objective of addressing the SME financing gap in India, Indifi has disbursed 30,000 loans across 12 industries since its inception, actively leveraging its extensive network of 20 lenders, including its in-house NFBC – Riviera, and 80 partners. Through this, the firm is not only helping bridge the need-gap but is also playing an instrumental role in driving financial inclusion in India. Recently Indifi has forayed into the pharma segment and will be extending its credit line solution to retailers – especially pharma distributors and local chemists – for managing their working capital needs and cash flows.
In a statement, Loren Rodwin, Managing Director of Social Enterprise Finance in DFC’s Office of Development Credit said, “Indifi deploys an innovative approach to improve access to finance for small businesses, which are an important engine for economic growth in the Indian economy. Indifi’s support is important for India’s small businesses as they weather the effects of the COVID-19 pandemic and recover from its effects.”
“The guaranty from DFC eliminates foreign exchange rate fluctuation risk from the balance sheet of Riviera and it has become an important tool to mobilize debt funding for impact space companies. We have done $30 million of DFC’s guarantee backed transactions till date, out of which $25 million has been done in FY21,” said Roopa Satish, Head – Corporate & Investment Banking, CSR & Sustainable Banking, IndusInd Bank, in a statement.
In a statement, Siddharth Mahanot, Co-founder and COO, Indifi Technologies, said, “We are thankful today to the US International Development Finance Corporation (DFC) and IndusInd Bank for this facility which comes to us at the right time and helps us in our goal of extending debt financing to underserved MSMEs who are recovering from the Covid impact. We look forward to strengthening our relationship from DFC and IndusInd in times to come.