Indifi

Indifi provides unsecured business loans through a quick and simple process without collateral requirements.

Aims to close loans within four days of application, addressing the $380 billion formal debt financing gap affecting Indian MSMEs.

Multiple lender options through one application, with industry-specific loan products.

Small businesses across travel, hotel, e-commerce, restaurant, trading, and retail sectors.

Platform serves businesses with minimum 1-year operational history and promoter age 22+.

Borrowers reach Indifi through a dedicated phone helpline and separate email addresses for new applicants versus existing customers, for queries, requests, and complaints related to their loans.

Existing customers manage their relationship with Indifi through a self-service login portal to raise queries and track application/loan status, plus a downloadable mobile app.

As a regulated lender, Indifi runs a structured escalation ladder: unresolved complaints move from standard customer service to a named Grievance Redressal Officer after 15 days, then to RBI's Sachet or CMS portal after 30 days if still unresolved.

Businesses apply for term loans, line of credit, invoice discounting and merchant cash advance directly through Indifi's own digital application.

Loan offers surfaced inside partner platforms, e.g. small merchants see Indifi loan offers on the Google Pay for Business app.

Collects and analyzes demographic, business, and financial data to help MSMEs secure credit from banks and lenders while reducing origination costs.

Provides bundled services to lending partners including loan origination, servicing, and collection.

Indifi Capital Private Limited, a wholly owned subsidiary of Indifi Technologies, is a systemically important, non-deposit-taking NBFC registered with the RBI -- giving Indifi its own on-balance-sheet lending license alongside its partner-lender model.

Indifi's core resource is its own technology platform that aggregates business data from multiple sources and generates creditworthiness insights, underpinning underwriting decisions across all its lending partners.

Co-founder Siddharth Mahanot brings 15+ years of risk and credit-underwriting experience from Citibank, Edelweiss, ICICI Bank and Indiabulls; co-founder & MD Alok Mittal brings 20+ years in venture capital and entrepreneurship; CEO Sangram Singh adds 20+ years in banking and payments from Citibank, Freecharge and Axis Bank.

Indifi holds ISO/IEC 27001:2013 certification for its information security management and is Great Place to Work Certified for 2025-26, supporting trust in how it handles borrower data as a lending platform.

Collaboration with Google Pay to offer instant loans to eligible small merchants on the Google Pay for Business app; Indifi evaluates applications via API integrations for an instant credit decision.

Facebook partnered with Indifi to offer collateral-free loans of Rs 5 lakh-Rs 50 lakh at 17-20% interest to SMBs advertising on Facebook, with Indifi approving loans and handling recovery.

Debt financing partners including Vivriti, Northern Arc, SIDBI, and a guarantee from the US International Development Finance Corporation.

"At Indifi, we address this problem by working closely with more than 100 data partners and a few top financial institutions, providing easily accessible loans digitally." — Alok Mittal, CEO & Co-founder

Processing fees charged to borrowers on loan disbursals.

Service fees collected from lenders for bundled services such as loan origination, servicing, and collection.

Additional income earned from interest and other miscellaneous sources.

Interest charges and borrowing costs were the largest expense line in FY23.

Employee benefits grew 28.6% YoY to Rs 72 crore in FY24 (from Rs 56 crore in FY23).

Bad debt costs booked as part of FY23 expenses.