Access to credit has long been a major hurdle for India's micro, small, and medium-sized businesses (MSMEs), despite their significant contribution to the country's economy.

The Reserve Bank of India's Expert Committee estimated a staggering credit gap of $243 billion to $303 billion for the MSME sector. These enterprises, which form the backbone of the nation, face immense challenges in obtaining the funds necessary for growth and expansion.

Recognizing this critical issue, Indifi Technologies, an Indian startup founded in 2015, has set out to tackle the credit gap and empower MSMEs through its innovative digital lending platform. Co-founded by Alok Mittal and Siddharth Mahanot, Gugugram-based Indifi offers tailored loan solutions to businesses with an annual turnover ranging from $36,400 to $1.21 million.

To fuel its mission of credit inclusion, the company has raised $35 million in its latest round led by ICICI Venture, bringing up its total raised to $85 million, per data from Traxcn. The round also saw participation from existing investors, including British International Investment, OP Finnfund Global Impact Fund I, Omidyar Network India, Flourish Ventures and CX Partners

Indifi's online marketplace serves as a one-stop platform for SMBs across various sectors, including travel, e-commerce, hotels, and retail, to secure unsecured loans that cater to their unique needs. By leveraging technology and analytics, Indifi streamlines the lending process, providing a convenient and efficient borrowing experience for MSMEs.

Its impressive growth and impact are evident in its track record. The startup has disbursed over 73,000 loans across 400 cities, amounting to a total disbursement value of more than $497 million. Indifi fills the credit gap for those typically overlooked by traditional financial institutions, providing them with funds to adequately service their businesses.

Additionally, the startup provides an inclusive lending system to support women entrepreneurs, who often face even greater challenges in accessing credit through traditional channels. Over 20% of Indifi's customers are women entrepreneurs.