Fintech NBFC startup Indium Finance raises Rs 4.5Cr led by IAN
Mumbai-based B2B2B fintech NBFC distributor platform Indium Finance has raised Rs 4.5 million ($563k) in funding from Indian Angel Network (IAN). According to a company statement, IAN’s lead investors Sanjay Rishi, Raman Roy, and Manipal Group participated in the round.
Founded in 2019 by Shalabh Mohan and Vivek Kumar, who have previously worked with MNCs and domestic banks in various verticals including credit products, supply chain finance, working capital solutions, etc.
Indium Finance offers accessible and affordable financing solutions to the underserved SME borrower community through its platform that bridges the working capital financing gap in commercial companies for the purpose of purchasing inventory.
It also provides innovative digital financing solutions for B2B purchases migrating to online platforms.
In this funding round, Indium Finance will focus on accelerating new customer acquisition, building a product platform to deliver customized solutions, and expanding the sales and technology teams.
“A lot is being done in the SME space, but we still believe it has huge growth potential through innovative digital financial services solutions. We will enable SMEs facing difficulties to get timely funding due to lack of collateral or required documentation,” said Shalabh Mohan and Vivek Kumar.
Indium Finance claims to work with many corporate and B2B e-commerce partners, giving it access to more than 25,000 distributors, dealers, and retailers.
After being a bootstrapped company for nearly four years, the startup plans to use the investment to work with new corporate and e-commerce partners to double down on said approach in the next six months.
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