Sangram Singh takes helm as CEO at Indifi Technologies

Indifi Technologies, a lending platform catering to Micro, Small, and Medium Enterprises (MSMEs), has appointed Sangram Singh, former Axis Bank executive and Chief Executive of Freecharge, as its new Chief Executive. Singh, tasked with scaling up Indifi's primary platform,  will oversee key functions such as lending partnerships, distribution, technology and risk, product, and treasury. Reporting directly to Alok Mittal, the co-founder and managing director of Indifi, Singh's appointment marks his second stint with the company, having previously served as its president from 2019 to 2020.

Under Singh's leadership, Mittal aims to explore new business lines, emphasizing secured lending products and supply chain financing for the platform's next phase of growth. Indifi Technologies, established in 2015, currently disburses nearly INR 2500 crore annually, with over 80% of revenues derived from term loans and an additional 15% from credit lines. Over the next three years, the company aims to expand its product offerings, including purchase financing and supply chain, constituting 25% of its overall revenues.

With an active loan book of INR 2,000 crore, half of which is funded internally through its non-banking finance company (NBFC), Indifi has provided over 96,000 loans in 400 cities, totaling an overall disbursal value exceeding INR 5,100 crore. In June, the company secured INR 290 crore (approximately $35 million) in funding, led by ICICI Venture and featuring participation from existing investors like OP Finnfund Global Impact Fund, Omidyar Network India, CX Partners, British International Investment, and Flourish Ventures. As Indifi plans to double its disbursals in the coming year, its strategic focus includes establishing new channels for loan distribution, such as partnerships with payment banks and resellers of accounting systems.