Funding · Financial Services

Indifi raises Rs 79 crore in funding round

By Startup Enthusiast · 10 July 2026

What they do

Indifi provides technology-driven unsecured business loans to small and medium enterprises

It raised Rs 79 crore (~$8.3 million) in a round led by ICICI Venture, with BII, Accel India, and Parul Alok Mittal participating

The valuation remained flat at Rs 1,418 crore from its Series E round in June 2023

Indifi is raising Rs 79 crore (~$8.3 million) in its first funding round in three years.
The round is led by ICICI Venture through its India Advantage Fund, investing Rs 29 crore.
British International Investment (BII) is investing Rs 27 crore.
Accel India is investing Rs 14 crore.
Parul Alok Mittal is investing Rs 9 crore.
The board approved issuance of 43,55,975 CCPS (compulsorily convertible preference shares) at Rs 181.36 each.
Proceeds will be used for business expansion, infrastructure, capex, working capital, debt repayment, and general corporate purposes.
The company may raise more capital in this round.

This is Indifi's first funding round since its Series E in June 2023, which raised $35 million led by ICICI Venture.
The valuation remains flat at Rs 1,418 crore from the Series E round.
Post-allotment, BII becomes the largest external shareholder at 17.10%.
FY25 operating revenue grew 22.4% to Rs 360 crore, but losses widened 64% to Rs 45.04 crore.

Indifi is a technology-driven platform that provides unsecured business loans to small and medium enterprises (SMEs).
It has disbursed over 1.5 lakh loans across more than 400 cities.
It partners with over 80 lending institutions to offer credit.
In FY25, it reported operating revenue of Rs 360 crore and losses of Rs 45.04 crore.

Proceeds will be used for business expansion, infrastructure, capex, working capital, debt repayment, and general corporate purposes.
The company may raise more capital in this round.

ICICI Venture (lead) — Invests through India Advantage Fund S5 I; holds 15.33% post-allotment.
British International Investment (participated) — UK-based development finance institution; becomes largest external shareholder at 17.10% post-allotment.
Accel India (participated) — Venture capital firm; holds 10.94% post-allotment through Accel India IV (Mauritius) Limited.
Parul Alok Mittal (participated) — Individual investor; holds 1.56% on fully diluted basis.