Posted in Startups

Indifi: Indifi cofounder Siddharth Mahanot steps down

 October 1, 2024  Leave a Comment on Indifi: Indifi cofounder Siddharth Mahanot steps down
Growfast


Indifi cofounder Siddharth Mahanot has stepped down from his executive position. Cofounder Alok Mittal and chief executive Sangram Singh will continue to lead the venture.

Taking to social media platform LinkedIn, Mahanot said: “Although I am stepping away from day-to-day operations, I will continue to be involved as a shareholder and will maintain my board responsibilities.”

Mahanot did not disclose any details on his next plan of things. Prior to starting Indifi, Mahanot worked with Citibank, Indiabulls Housing Finance and Edelweiss Financial Services.

Indifi had appointed former Axis Bank senior executive Sangram Singh as its CEO in December 2023.

Gurugram-based Indifi is a small business focused lending company which raised around $35 million in its latest equity round in June 2023. Since inception the startup has raised around $90 million from Omidyar Network, ICICI Ventures, British International Investment, Flourish Ventures and others.

Growfast


The company was started as a credit marketplace in 2015, but eventually got its own non-banking finance company licence in 2017 and started building its own credit book. As of March 2024, Indifi Capital, the in-house NBFC had total assets under management of Rs 1,729 crore and reported a total income of Rs 341 crore in FY24. It reported a net profit of Rs 3 crore in the last fiscal.

Discover the stories of your interest



Source link

Online Company Registration in India

Leave a Reply

Your email address will not be published. Required fields are marked *