Credit and Finance for MSMEs: Gurugram-based fintech lender to MSMEs, Indifi Technologies, announced that it has disbursed 50 per cent of its total loans via its marketplace in the first quarter of this fiscal year vis-a-vis 25 per cent share in the first quarter of the last fiscal year.
Indifi attributed the growth to seven of its new lending partners including DMI Finance, Caspian, UGRO Capital and Aditya Birla Finance Limited taking the total count of ecosystem players to thirteen.
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The online lender aims to increase their loan book through lending partners to 70 per cent, by taking their count to 20 in the current fiscal including Non-Banking Financial Companies (NBFCs) and private and multinational banks.
Siddharth Mahanot, co-founder and chief operating officer (COO) of Indifi, said in the statement, “MSMEs have always struggled with credit access via traditional banks due to lack of credit history, collaterals, and years of operations. However, our data-driven model has helped the creditors analyse risk and profitability of the borrowers. Despite an active customer base of about 20,000, the rate of gross non-performing assets (GNPA) lies only around 2 per cent. ”
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“We have developed an impeccable track record and trust across our partners in 2021 inspite of the blow from the pandemic and look to double down on our co-lending model in the next fiscal year,” he added.
Indifi focuses on ecosystem-based MSME lending where it partners with digital platforms and payment ecosystems to lend to the small businesses on their platform.