India-based business lending platform Indifi has reportedly collected $5m in debt financing from IndusInd Bank.
This money will be used to boost the business lending capacity and increase its post-pandemic economic recovery, according to a report from The Banking Finance.
Businesses in the travel, e-commerce, hospitality, restaurant, retail industries, as well as other startups, can use Indifi to access loans. Its platform offers term loans, line of credit, invoice discounting and merchant cash advance.
Indifi Technologies co-founder and COO Siddharth Mahanot told Indifi, “We are extremely 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 recovering from the COVID impact.”
The FinTech previously raised $21.31m in its Series C round in 2019, which was led by CDC Group.
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