Key Features of Indifi's Platform:
- Sector-Specific Lending: Indifi doesn’t follow a one-size-fits-all model. The platform designs tailored credit products for businesses in different industries, including travel, retail, e-commerce, restaurants, and more. For example, an e-commerce seller might need credit to expand inventory, while a restaurant may require a loan to upgrade equipment or renovate its premises. By customizing its offerings, Indifi enhances the relevance and accessibility of its loans to specific business types.
- Alternative Data for Underwriting: One of the most significant challenges that SMEs face when approaching traditional lenders is the lack of a formal credit history. Indifi circumvents this problem by using alternative data, including transaction history, customer feedback, supply chain relationships, and digital payment records, to assess the creditworthiness of borrowers. This data-driven approach not only improves the accuracy of risk assessment but also makes lending more inclusive.
- Partnership Model: Indifi collaborates with multiple financial institutions, including banks and Non-Banking Financial Companies (NBFCs). The platform acts as an intermediary that connects SMEs with these lenders, providing a digital infrastructure that streamlines the entire lending process, from application to disbursement. Indifi also partners with digital marketplaces like Amazon, Flipkart, and travel booking platforms to tap into a wide customer base.
- Quick and Simple Loan Process: Traditional loans are often accompanied by cumbersome paperwork and a lengthy approval process. Indifi, on the other hand, offers a simplified, digital application process that can be completed online in just a few steps. With minimal documentation and quick approval timelines, Indifi ensures that businesses can access the funds they need without unnecessary delays.
- Unsecured Loans: Unlike banks that often require collateral for SME loans, Indifi provides unsecured loans, making it easier for small businesses to access credit without pledging assets. This flexibility is particularly crucial for new businesses or those without substantial assets to offer as security.