Indifi Technologies Private Ltd has announced an acquisition of its minority stake in BizeeBuy (B2B service platform of Intellifi Technologies Pvt. Ltd.) for an undisclosed amount.
The strategic investment made by Indifi Technologies would help it improve the tech-based services that it offers to its clients, who are primarily small and mid-sized businesses. Contrarily, consumers of BizeeBuy can now access the credit services of Indifi.
Additionally, BizeeBuy, a D2C brand service provider, will use the funds to develop new products and broaden its market reach. It offers a SaaS platform that assists enterprises with e-procurement, process controls, vendor collaboration, and inventory management. It supports B2B firms in the contract manufacturing and D2C space with an emphasis on mid-market firms.
Alok Mittal (Co-founder & COO, Indifi) said, “The critical problems that BizeeBuy seeks to solve are pervasive across segments of the MSME sector, yet the solutions are not readily available. Joining forces with BizeeBuy was an easy decision considering their robust system and product.”
Indifi, an online-lending platform established in 2015, provides business loans to MSMEs and SMEs with restricted access to financing from conventional financial institutions. Indifi competes with companies like AyeFinance, Kredx, Lendingkart, and Flexiloans in the MSME tech domain, among others. According to Indifi, it has helped organizations in the hospitality, e-commerce, trading, travel, and retail industries. It has given out loans in over 650 cities, to date.
In April, Rajnish Kumar– the former chairman of SBI (State Bank of India), was also appointed by Indifi for advisory regarding the company’s growth plan and all aspects of the financial services. Additionally, Kumar serves as the current chairman of BharatPe (a Fintech company).