New Delhi: Gurgaon-based Indifi Technologies, an enabler for SME funding in India, has partnered with OfBusiness, a B2B ecommerce marketplace, in a bid to help buyers on OfBusiness platform to scale up their businesses.
Through this association, Indifi will enable purchase financing to the small scale manufacturing companies to assist them in purchasing raw materials for their business. The financing facility provided is typically a 12-month line of credit wherein customers can draw demand loans for a 30 or 60-day period.
With this partnership, Indifi is now live in 6 different segments viz. travel, transportation, retail sector, hotels, e-commerce and manufacturing.
Commenting on the partnership, Alok Mittal, Co-founder and CEO, Indifi Technologies said, “By availing purchase financing through Indifi platform, these manufacturing companies benefit by combining the low cost of marketplace sourcing with the credit availability of traditional suppliers.”
Adding insights on the association, Ruchi Kalra, Co-founder, OfBusiness, said: "SME financing, particularly in manufacturing is the need of the hour. We at OfBusiness are committed to creating value through our commerce, logistics and credit solutions for SMEs. Indifi through its nimble and tech-driven approach has helped us gallop in scale."
Indifi Technologies partners with lenders - banks and NBFCs - to deliver credit facilities to small businesses. It aims to substantially improve the experience that borrowers get in terms of speed of approval and disbursement, convenience of the loan process, relevance of the loan product to their business needs, and finding the best rates in the market.
OfBusiness is a technology-driven business to business marketplace for commerce, logistics and credit. It is operational in 10 states across the country and is active across two verticals – construction and manufacturing, with plans of entering healthcare soon.
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Updated Date: May 10, 2016 13:22:20 IST