Digital Loans to Small Businesses | Story of Indifi | Alok Mittal, Founder & CEO | Episode 166

India has 64 Million Micro, Small & Mid Sized Businesses (MSMEs) in India. However, only 12% of them have access to formal credit. There's a massive $530 Billion Credit Gap in this market. In simpler terms, the total demand for formal loans by MSMEs in $819 Billion, out of which $530 Billion is unmet.
The problem is that banks don't have the right products and the right business model to serve the MSMEs. That's where Indifi is revolutionizing the market with its Digital Loans made based on Alternative Sources of Data.
I host Mr. Alok Mittal, Founder of Indifi Technologies on understanding the problems in the market and how they are solving it.
Episode Timestamps:
0:49 - Introduction to Indifi and MSMEs
3:58 - Gaps in the MSME market and the process of lending money to them
9:43 - The importance of providing capital to MSMEs
12:14 - The process of scalable underwriting
16:05 - Sectors in which Indifi lends and how alternative data sources are utilized
19:25 - Indifi’s focus on women entrepreneurs and the challenges they face
25:07 - Partnering with banks and operating as an NBFC; emphasis on customer experience
28:22 - Digital innovations in Fintech
33:35 - OCEN and its potential
36:20 - Opportunities in the Fintech space
39:44 - How did experience as a Venture Capitalist aid in the success of Indifi?
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Your questions are very on point in all podcasts. Really appreciate your work. Got learn a lot.