MSME lending platform Indifi Technologies, on Tuesday, announced its strategic investment in BizeeBuy, a cloud platform for B2B commercial needs. This investment is a move to strengthen the tech offerings to SMEs across the country. Through this investment, Indifi’s customers will get access to BizeeBuy’s offerings.
Additionally, Indifi's integration into BizeeBuy’s ecosystem will facilitate access to Indifi’s credit services (like invoice discounting and line of credit apart from their term loans) through the platform itself.
While MSMEs are a key driver of India Inc’s growth story, yet gaps that prevent them from realizing their full potential continues to be pervasive. For an MSME owner, beyond accessing capital and managing sales transactions, backend interactions with suppliers/ vendors, procurement, inventory management, and payables processes also require attention. BizeeBuy aims to digitize and optimize these interactions in the B2B ecosystem. The platform services the entire “source-to-pay cycles'’ - starting from the time a business begins sourcing, to procurement, to inventory, and eventually the payables.
Alok Mittal, Co-founder & CEO, Indifi, said in a statement, “The critical problems that BizeeBuy seeks to solve are pervasive across segments of the MSME sector, yet the solutions are not readily available. 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.”
Ravi Tiwari, Founder & CEO, BizeeBuy said in a statement, “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.”
The investment fund will be utilized for product enhancement and market outreach by BizeeBuy. Indifi will also provide support in the functioning, design, processes currently and in the future look to have deep integration with Bizeebuy wherein the disbursal, risk assessment and collection will happen through the platform itself.
Alok Mittal, Co-founder & CEO, Indifi, said, “The critical problems that BizeeBuy seeks to solve are
pervasive across segments of the MSME sector, yet the solutions are not readily available. "