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Indifi Technologies Doubles AUM to over Rs 1500 Crore, Remains Profitable In FY23

Granularity in growth seen with the number of loans disbursed growing by 150 per cent, through a diversified mix of digital partnerships

Indifi Technologies Doubles AUM to over Rs 1500 Crore, Remains Profitable In FY23
POSTED ON May 01, 2023 11:47 AM

Indifi Technologies, an MSME digital lending platform announced that the company crossed Rs 1500 crore AUM (assets under management), marking over 100 per cent growth over the previous year. Indifi attained profitability in the fiscal year 2022 (FY22) and has maintained it through FY23, Since inception, the company claims to have disbursed over 68,000 loans with disbursals of over Rs 3800 crore.

Indifi continued to build on its network of digital partnerships by deepening existing relationships across e-commerce, food delivery, retail payments, digital marketplaces, etc. and adding new partners. 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 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 borrower's risk profile.

“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 and 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 and 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,” said Aditya Harkauli, chief business officer at Indifi Technologies.

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