Indium Finance, a B2B fintech and NBFC platform has raised Rs 4.5 crore in funding from Indian Angel Network (IAN).
Other investors including IAN lead investors Sanjay Rishi, Raman Roy, and Manipal Group, also participated in this round.
The startup plans to use the funds to invest in collaborating with new corporate and e-commerce partners to double the mentioned reach over the next six months.
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The Mumbai-based Indium Finance was founded in 2019 by Shalabh Mohan and Vivek Kumar, It partners with corporates and B2B e-commerce platforms to provide credit solutions (such as Buy Now and Pay Later or BNPL) and cash management solutions to distributors, wholesalers and retailers.
The startup claims to have worked with multiple corporate and B2B e-commerce partners, giving it access to over 25,000 distributors, dealers and retailers.
“A lot is being done in the SME space, but still, we believe that it has a huge potential 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”, said, Shalabh Mohan and Vivek Kumar, co-Founders of Indium Finance.
The startup aims to democratize working capital access to SMEs by leveraging its proprietary credit model and technology platform.
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. Vivek and Shalabh, being from the banking industry themselves, understand the lack of suitable working capital financing options. Hence, their vision of assisting the SME community will help narrow the debt gap. We are delighted to be associated with such a trailblazing company.”
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About Indium Finance
Indium’s mission is to drive SME business growth by delivering scalable digital financial solutions in partnership with Corporates and B2B e-Commerce platforms.
Indium offers digital SME financial solutions:
a. Distribution Finance A financing facility that can be used by distributors / dealers / retailers to finance purchase of goods from Corporates.
b. e-Commerce Buyer Finance A ‘Buy Now Pay Later’ solution for online purchases by SMEs on our partner B2B e-Commerce platforms. These are delivered seamlessly through API integrations with the B2B platform.
c. Online Merchant Finance It is Revenue Based Financing for SME merchants selling on our partner platforms. These are delivered seamlessly through API integrations with the B2B platform.