Indifi Co-Founder Siddharth Mahanot Exits Indifi After 9 Years, Alok Mittal and Sangram Singh to Lead After the changeover, it is anticipated that Sangram Singh, the recently appointed chief executive officer (CEO), and another Co-founder, Alok Mittal, will take on leadership roles.
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Siddharth Mahanot, co-founder and executive director of digital lending platform Indifi, has announced his departure, concluding a nine-year tenure at the Accel and ICICI Venture-backed fintech firm.
After the changeover, it is anticipated that Sangram Singh, the recently appointed chief executive officer (CEO), and another Co-founder, Alok Mittal, will take on leadership roles.
Mahanot shared the news in a LinkedIn post, expressing his decision to step down from executive responsibilities by the end of the month.
"Although I am stepping away from day-to-day operations, I will continue to be involved as a shareholder and will maintain my board responsibilities. I'm confident that under the strong leadership of Alok Mittal and Sangram Singh, supported by the stellar leadership team, the company will continue to grow, thrive, and innovate," shared Mahanot in a LinkedIn post.
Gurugram-based Indifi is a non-banking financial company (NBFC) providing business loans and working capital finance to MSMEs and D2C brands.
Supported by major investors like ICICI Ventures, Accel, and British International Investment, the platform claims to have an active loan book of INR 2,000 crore, with half of it funded from its in-house NBFC. Over the years, Indifi has disbursed over 96,000 loans, amounting to INR 5,100 crore across 400 cities.
Sangram Singh, a former Axis Bank executive, joined Indifi in December 2023 to scale the core platform and drive key functions, including product, distribution, lending partnerships, and risk management. His leadership marks a strategic shift as the firm eyes new business lines, focusing on supply-chain financing and secured lending products.
It also roped in former Paytm vice president Jasmeet Arora as its chief growth officer.
In June 2023, Indifi raised INR 290 crore in a funding round led by ICICI Venture, positioning the company for its next phase of growth.
