Fintech startup Indifi raises $10M to improve its products and technology

by Abhinav Mohapatra

Fintech startup, Indifi technologies, has raised $10 million in Series B funding led by Omidyar Network, existing partners Accel Partners and Elevar Equity also participated in the round. According to Alok Mittal, Co- Founder and CEO, Indifi Technologies, the company will use these funds in expanding product offerings, improving customer service features and enhancing data and credit models.
“Bulk of the capital that we are raising now will go towards product development, making the customer experience more seamless, improving on our technology stack, and building depth in the industry verticals we are going after. We expect to have three banks live on the platform shortly,” he said.
The India-based fintech startup was founded in 2015, which helps small and medium businesses to get loans with a three process system which includes submitting documents online, finding lenders and crediting loan.
The company also has a non-banking financial company license held by its fully-owned subsidiary Riviera. It provides a financing platform to ventures operating in the travel, hotels, e-commerce and retail segments.