Indifi Technologies Doubles Its AUM To Over Rs 1500 Cr
Additionally, the share of marketplace lenders in the AUM saw a 25 per cent increase over the last FY, thereby contributing 50 per cent by value in March 2023
Indifi Technologies, India’s leading MSME digital lending platform announced today that the company crossed Rs 1500 crore AUM, marking over 100 per cent growth over the previous year. Indifi attained profitability in FY '22 and has maintained it through FY23, Since inception, the company has disbursed over 68,000 loans with disbursals of over Rs 3800 crore
Indifi continued to build on its network of digital partnerships by both; deepening existing relationships across ecommerce, Food Delivery, Retail Payments, Digital Marketplaces etc; and adding new partners. Additionally, the share of marketplace lenders in the AUM saw a 25% increase over the last FY, thereby contributing 50% by value in March ‘23. Indifi’s credit performance, underlined by segment-specific ML-based scorecards, remained stable throughout the year. Improvement in underwriting models enabled the company to go deeper into the funnel of applicants to deliver higher approval rates and more sharply align credit limits with the risk profile of the borrower.
Commenting on this milestone Chief Business Officer, Indifi Technologies, Aditya Harkauli says, “The milestone marks a small step forward in the company’s journey. More importantly, Indifi’s performance in FY’23 reiterates our commitment to profitable growth. Concomitant with the doubling of disbursals & AUM were improvements across functional KPIs ~ operating costs, cost of funds, NPA, credit rating ~ that added up to improve the ROTA profile of the book. Going ahead, we would look to double up again over the course of FY’24, while seeding new initiatives for growth in the longer term. Adding & 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.”
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