Indifi Tech witnesses over a 35% surge in credit demand in ongoing IPL

Indifi Technologies, one of India’s leading MSME lending platforms, witnessed over a 35% surge in credit demand from restaurants during the ongoing IPL. Indifi registered a corresponding 40% increase in disbursals with a substantial lift in ticket size as well through this phase. Over 50% of the increase came through relatively smaller restaurants (turnover < 3 lacs per month).
The IPL continues to be one of the biggest sporting events in the country. Its impact on home consumption across several categories including food delivery is significant - leading to a huge surge in demand. Digitally ready restaurants, being beneficiaries of this IPL induced externality, have been increasingly turning to digital lenders like Indifi Technologies, courtesy of their host platforms, to supplement their working capital needs & meet seasonal spike in orders. Indifi, in turn, with the support of the delivery platform partners, offers these restaurants a one stop & presence-less access to multiple credit options. On the supply side, Indifi has been steadily increasing its partnerships, adding both NBFCs & Banks, to cater to the entire breadth of the MSME market.
Speed, apart from ease , becomes especially significant during such seasonal waves. This is where a digital platform like Indifi, with a state of the art stack, is able to substantially improve the search & fulfilment experience for the borrowers. The turnaround time for lead to offer creation at Indifi is less than 4 days. With the growing adoption of digital modes of borrowing, the platform has also seen increasingly higher repeat borrowers (upwards of 60%), across segments, coming back to seek a renewal or enhancement of their facilities. Indifi has also started offering Instant loan products since Dec ’22.
Elaborating on Indifi’s model, Aditya Harkauli, Chief Business Officer, said “ The triaging of ‘Cricket – Food Delivery Platforms - Restaurants – Digital Lending’ seen during the IPL, is just one example of our Ecosystems based model. Indifi was founded with the core belief that digital networks can be an effective agent of change in enabling affordable credit to the underserved MSME borrowers, at scale. Ergo, partnerships on both the demand & supply side, are important for us.
Over the years we have served thousands of borrowers through our cherished & long standing partnerships with leading digital ecosystems across segments (E-commerce, Retail, Food, Travel, Payments, etc.). In parallel, we have had a growing number of suppliers (Banks & NBFCs) coming on board who are willing to extend credit using our scoring models. In FY ’23 we hope to sustain the momentum of the previous year and as a first milestone, are looking to more than double our monthly disbursal volumes by Q2  on the back of a substantially enhanced product suite”

News in the domain of Advertising, Marketing, Media and Business of Entertainment

More in Media