MODIFI Sets Ambitious Plans for SME Financing in India

MODIFI, a fintech company, aims to finance 500 SMEs across India over the next few years, leveraging its USD 15 million Series C funding. Since its 2019 launch in India, it's been pivotal in cross-border trade finance, targeting sectors like renewables and textiles.

MODIFI, headquartered in Amsterdam, has announced its ambitious plans to finance about 500 small and medium enterprises (SMEs) across India over the coming years. This initiative is part of its collaboration with prominent trade bodies and aims to boost India's role in the company's global expansion.

Since its inception, MODIFI has facilitated over USD 3 billion in global trade across 1,800 trading partners in more than 55 countries. Having launched its India operations in 2019 as its first international venture outside Europe, India remains central to its growth strategy.

The company plans to allocate a significant portion of its recently raised USD 15 million Series C funding to enhance its India operations. With a 38 percent year-on-year growth, MODIFI aims to expand its workforce and technology to better serve Indian exporters, focusing on sectors like renewables, automotive, chemicals, and textiles.

(With inputs from agencies.)