Accel-backed Indifi Technologies turns strategic investor for BizeeBuy
BizeeBuy will use the investment fund for product enhancement and market outreach. It will also provide support in the functioning, design, and processes.
, a provider of MSME lending platforms, has made a strategic investment in BizeeBuy, a comprehensive cloud platform for businesses to manage sourcing, procurement, inventory, and end-to-end commercial processes, with an ever-expanding B2B ecosystem of suppliers and service providers.
BizeeBuy will use the investment fund for product enhancement and market outreach. The company will also provide support in the functioning, design, and processes, and, in the future, look to have deep integration with BizeeBuy with respect to the disbursal, risk assessment, and collection through the platform itself.
"The critical problems that BizeeBuy seeks to solve are pervasive across segments of the MSME sector, yet the solutions are not readily available," said Alok Mittal, Co-founder and CEO, Indifi. "Joining forces with BizeeBuy was an easy decision considering their robust system and product, and we look forward to jointly unlocking great opportunities for our customers."
Indifi said that the investment will strengthen the company's tech offerings to SMEs across the country and would enable its customers with access to and awareness of BizeeBuy’s offerings, streamlining their processes, and access to Indifi’s credit services (like invoice discounting and lines of credit apart from term loans) through the platform itself.
SaaS platform works on digitising and optimising interactions in the B2B ecosystem. The platform services the entire "source-to-pay cycle"—starting from the time a business begins sourcing, to procurement, to inventory, and eventually payables.
Gurugram-based online lending platform Indifi Technologies was founded in 2015 to address the credit needs of underserved, credit-worthy businesses through an ecosystem-based and verticalised approach to digital lending.
Ravi Tiwari, Founder and CEO, BizeeBuy, said, "Indifi as a leading digital lending platform brings with them a deep understanding of the credit needs of the MSME space. We are excited to have them join us as strategic investors, and I believe together we can further our overarching mission of technology-driven enablement of MSMEs."
Edited by Kanishk Singh