Indium Finance to utilise Rs 4.5 cr investment by IAN to provide SMEs customized solutions

New Delhi, Aug 24 (KNN) Fintech NBFC platform Indium Finance will use its freshly infused capital of Rs 4.5 crore raised from Indian Angel Network (IAN) to build product platform to provide SMEs with customized solutions.

The Mumbai based company will also focus on accelerating the acquisition of new customers and expanding the sales and technology teams, said the company in a statement.

The round of investment was led by IAN Lead Investors Sanjay Rishi, Raman Roy, and Manipal Group.

Acknowledging the potential of SME space, Co-Founders of Indium Finance, Shalabh Mohan and Vivek Kumar said, “There is a huge scope for growth through innovative digital financial services solutions. We will enable SMEs that face difficulties accessing timely financing due to a lack of collateral or required documentation. The investment from IAN will act as a catalyst to further our goals. Not only will it help us accelerate our business growth, but also build new product capabilities.”

Sanjay Rishi and Raman Roy, Lead Investors at IAN, said, “We see Indium Finance as an exciting opportunity as the company is trying to bridge the SME finance gap by providing credit and cash management solutions to the distributor, retailer, and wholesaler segments.”

Highlighting Mohan and Kumar’s understanding, the investors expressed confidence in Indium Finance’s vision of assisting the SME community to help narrow the debt gap.

Based on an IFC survey, the current Indian SME debt gap is pegged at Rs 19 trillion.

It is estimated that more than 20 per cent of this gap can be addressed by providing supply chain financing to SMEs.  (KNN Bureau)