Omidyar invests $10 mn. in Indifi

Indifi Technologies, a fintech start-up, said that it had raised $10 million (Rs.67 crore) in a Series B investment round led by Omidyar Network, the philanthropic investing firm of billionaire eBay founder, Pierre Omidyar. Existing investors Accel Partners and Elevar Equity also participated in the round. The firm, which enables debt-financing for small businesses using technology, said it intended to use investments to further its products.

Alok Mittal, chief executive and co-founder of Indifi Technologies, said that the company has a validated vertical approach to financing and is now present across travel, e-commerce, retail, and hotel segments.

According to Smita Aggarwal, director, investments, Omidyar Network, this investment strengthens the fund’s commitment of backing innovative business models “that increase access to credit by underserved segments in India.”

Funding OfBusiness

Another Gurgaon-based company, OfBusiness, an online marketplace for small and medium-sized enterprises, said that it had raised Rs.75 crore in its Series B funding round led by Zodius Technology Opportunities Fund. Existing investor Matrix Partners also participated in this round.

“We intend to build the largest SME network in India,” said Asish Mohapatra, co-founder, OfBusiness.

Vikram Vaidyanathan, MD, Matrix India, said that SMEs are adopting technology at a rapid pace and are ready to transact online.

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