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Siddharth Mahanot, co-founder and executive director of Indifi, has stepped down after a 9-year tenure.
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Alok Mittal and newly appointed CEO Sangram Singh will assume leadership roles.
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Indifi provides business loans and working capital finance to MSMEs and D2C brands, with a loan book of Rs 2,000 crore.
Siddharth Mahanot, co-founder and executive director of digital lending platform Indifi, has stepped down after nine years. Mahanot announced his departure on LinkedIn, stating he will remain involved as a shareholder and maintain his board responsibilities.
Alok Mittal, another co-founder, and Sangram Singh, the newly appointed CEO, are expected to take on leadership roles. Singh, a former Axis Bank executive, joined Indifi in December to scale up the platform and oversee key functions.
Indifi, backed by investors like ICICI Ventures and Accel, provides instant business loans and working capital finance to MSMEs and D2C brands. The company claims an active loan book of Rs 2,000 crore and has disbursed over 96,000 loans worth Rs 5,100 crore across 400 cities.
Mahanot’s departure comes after Indifi’s Rs 290 crore funding round in June 2023. The company is exploring new business lines, including supply-chain financing and secured lending products, with Singh at the helm.
