September 13, 2025

Here's a fintech story that's buzzing! Indifi Technologies, a top lender for small businesses or MSMEs, just reported a cool Rs 360 crore revenue for the financial year 2025. That's a neat jump from Rs 294 crore last year. But there's a twist — their losses widened sharply to Rs 45 crore from Rs 27 crore the year before. Why? Alok Mittal, the founder, spilled the beans to ET: "Some of it is because of the deterioration in credit that we saw." He explained that Indifi is now carefully setting aside money to cover future bad loans. This smart move means they won't get caught off guard by losses down the line. Where did the money go? Total expenses climbed 23% to Rs 428.72 crore. Finance costs—basically the fees for collecting money—shot up to Rs 142 crore from Rs 109 crore. Plus, employee costs rose to Rs 81.7 crore from Rs 71.3 crore. The bigger story is the fintech trend: companies are running away from risky unsecured loans and chasing safer, secured loans. This is because the market has slowed and regulators are watching unsecured loans closely. Even names like Kissht, Loantap, Fibe, and Kreditbee—once big into unsecured consumer loans—are now offering secured products like loans against property, mutual funds, and vehicles. Indifi, which mostly gave unsecured MSME loans, is also jumping on the bandwagon. They launched two cool new products: supply chain finance, which helps speed up payments to small suppliers, and a "secured lending lab" business. According to Alok Mittal, "Over the last 12 months, we launched two new lines of business: a supply chain finance business and a secured lending lab business." These fresh offerings currently make up 6-7% of Indifi's monthly lending, but hold on tight—they expect this to zoom to 20-25% within the next three years! So, Indifi is not just growing revenue but also evolving smartly with the times. Will they turn those losses around soon? Only time will tell!

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Tags: Indifi technologies, Msme loans, Secured lending, Fintech, Losses, Revenue growth,