Indifi Technologies, an enabler for SME funding in India, has successfully expanded its partnership with Edelweiss Retail Finance, as a lender on its online lending platform. With this association, Edelweiss Retail Finance will now extend lending to small businesses across multiple segments that Indifi operates in, viz. travel, transportation, e-commerce, hotels and grocery stores.

Through this partnership expansion, Indifi aims to address the growing demand of the working capital requirement in the MSME segment.

Talking further about the development, Anil Kothuri, CEO, Edelweiss Retail Finance said: “In our very first engagement, we were very impressed with Indifi’s segment-specific approach, unique data and tech-based model. Additionally, its full customer life cycle management approach, demonstrates the commitment towards the business, which motivated us to go ahead with this partnership expansion.”

Reasoning the fortification of its partnership, Siddharth Mahanot, Co-Founder and COO, Indifi Technologies added: “Indifi sees a natural lending partner in Edelweiss Retail Finance, which is one of the most active lenders in the small business financing space. Strengthening our partnership with them creates a seamless platform for our customers. We are absolutely delighted by their move of early adoption and expansion with Indifi.”

Edelweiss Retail Finance first partnered with Indifi in October 2015, when it began with financing of personal loans to entrepreneurs affiliated with Ola cabs. Edelweiss has already facilitated a couple of hundred loans through the Indifi platform, and expects to deepen this partnership across the segments that Indifi operates in.

Indifi is a Gurgaon based platform for small business lending, connecting borrowers and lenders. It partners with lenders – banks and NBFCs – to deliver the credit facilities to small businesses. It further aims to substantially improve the experience that borrowers get in terms of speed of approval and disbursement, convenience of the loan process, relevance of the loan product to their business needs, and finding the best rates in the market. Driven by the idea of establishing or automating SMB financing in India, Indifi has emerged as an enabler for start-ups and small businesses to seek seamless access to funding.

The Retail Finance arm of the Edelweiss Group, which offers retail credit, housing finance, SME Finance and Rural Finance, through its branches spread across multiple locations in India.

Source: NewKerala.com