Fintech startup Indifi Technologies has appointed former Freecharge chief executive officer Sangram Singh as its president, the company said in a statement on Thursday.
Singh would be responsible for spearheading operations and driving business growth apart from establishing partnerships and alliances, including exploring new sectors for business opportunities, it added.
Indifi co-founder and chief executive officer Alok Mittal said Singh’s domain experience will help create new milestones for the company and fulfill its long-term vision.
Separately, Singh said he was looking forward to working with Indifi’s team. “The small business segment offers a significant opportunity for expansion of financial services, especially access to credit,” he added.
Singh is an alumnus of the Indian Institute of Management-Calcutta and the Malviya National Institute of Technology. Before serving as Axis Bank subsidiary Freecharge’s CEO, he also served as the bank’s executive vice-president and head of its cards and payments business.
Previously, he also served as Axis’ senior vice-president and head of its cards and merchant acquiring business. He was also associated with Citibank in various roles, including as the SVP and head of its prepaid cards business.
Indifi Technologies, which is operated by Indifi Technologies Pvt. Ltd was founded by Alok Mittal, Siddharth Mahanot, and Sundeep Sahi in 2015. It is an online platform that connects small businesses with formal lending institutions. The company says it has so far successfully disbursed over 15,000 loans across more than 200 cities through its network of more than 20 lenders and 80 partners.
In December 2016, the firm raised $10 million (Rs 66.5 crore) in a Series B funding round led by Omidyar Network, the investment firm founded by eBay founder Pierre Omidyar. That round also saw participation from existing investors Accel Partners and Elevar Equity.
In September 2015, the startup raised an undisclosed amount of funding from Accel and Elevar. Some of the other investors in the firm include Genpact founder Pramod Bhasin, Google's Rajan Anandan, Gaurav Dalmia, Abhishek Goyal, Gagan Hasteer and Arun Tadanki.