Indifi Technologies, an MSME lending platform, has forayed into the pharma segment by joining forces with Marg ERP, ERP solution provider. Through this association, Indifi will be extending its credit line solution to retailers – especially pharma distributors and local chemists – for managing their working capital needs and cash flows using the Margpay platform. The offering comes with easy repayment options and provides wider access to retailers, including those hailing from tier 2 and 3 cities.
With its new offering, Indifi is targeting retailers and distributors by offering loans in the range of Rs 5-25 lakhs for working capital management. The collaboration will also digitise the collection and payment journey for distributors and retailers present on Marg’s platform. While distributors can notify retailers to clear their outstanding dues via a completely digital process, retailers can make payments via different modes, including UPI and credit, using the same platform. It will also enable both parties to track their receipts and payments, anywhere and anytime.
Alok Mittal, Indifi’s CEO & Founder said, “We are excited to serve the pharma segment and help address the pain points of retailers and distributors who have been experiencing lack of access to credit for numerous years. Thanks to our new partner, Marg ERP, we will extend our credit services to their huge customer base, accounting to over two lakh merchants and distributors, of which 75 per cent are from the pharma segment. Together, not only we will be providing them with adequate credit access to ensure seamless operations, but we will also be driving financial inclusion and encouraging retailers from tier 2 and 3 cities to go digital in every aspect.”
Krishnam Raju, CEO, MARG ERP said, “We are delighted to associate with Indifi Technologies and extend their cutting-edge lending services to our customer base. MARG with over 40 per cent market share in pharma and deep penetration in FMCG distribution and supply chain is committed to helping Indian SMEs/MSMEs leverage the digital revolution through its extended platforms like MARGPAY. The platform offers payment solutions, credit, easy reconciliation and many more exciting features. Our 850+ partner network will not only help customers get informed but also extract the benefits of this credit system further.”
Some of the recent developments made by Indifi Technologies include a partnership with Indian Angel Network and the launch of Pragati, a collaborative resource centre for SMEs. The company has added two new short-term credit products for e-commerce and retail merchants.