Credit and Finance for MSMEs: The company said its disbursements grew to more than 68,000 loans amounting to Rs 3,800 crore since its inception in 2015.
Credit and Finance for MSMEs: Digital lender for MSMEs Indifi Technologies on Monday said it has crossed Rs 1,500 crore in assets under management (AUM) in the financial year 2022-23, doubling from FY22 while it also remained profitable in FY23. The company said its disbursements grew to more than 68,000 loans amounting to Rs 3,800 crore since its inception in 2015. The company had turned profitable for the first time back in the first quarter of FY23, FE had reported.
Found in 2015, Indifi attained profitability for the first time in the last quarter of 2021 and maintained it in 2022 as well. It has financed enterprises associated with E-Commerce, food delivery, retail payments, digital marketspaces, etc. Indifi analyzes data of businesses from various leading tech-aggregators like Swiggy, Zomato, Amazon, Flipkart, and Gpay, among others, and draws insights to judge their creditworthiness.
Indifi’s Chief Business Officer Aditya Harkauli said that concomitant with the doubling of disbursals and AUM were improvements across functional KPIs — operating costs, cost of funds, non-performing assets (NPA), credit rating — that added up to improve the ROTA (return on total assets) profile of the book.
“Adding and deepening partnerships, both on the demand and supply side, will continue to be the route to scale. Accentuation of co-lending with banks will be noticeable in the augmentation of supply, over the course of the year,” he added.
Indifi said the share of marketplace lenders (on its platform) also increased by 25 per cent over the last fiscal, leading to a 50 per cent contribution by value in March 2023. The company works in association with financing partners including Aditya Birla Capital Financing Solutions, Riviera, IDFC First Bank, IIFL, and more to lend to businesses through its industry partners such as Amazon, Swiggy, Flipkart, Pine Labs, DTDC, etc.
Indifi competes with other digital lenders enabling small business loans such as Lendingkart, CreditMantri, Ziploan, FlexiLoans, CreditEnable, Razorpay, Bajaj Finserv, and more.