<article><a href="http://dealstreetasia.com/tag/ifc" target="_blank" rel="noopener">International Finance Corporation</a>, a part of the <a href="http://dealstreetasia.com/tag/world-bank" target="_blank" rel="noopener">World Bank Group</a>, is considering an equity investment of up to $8 million in financial technology startup <a href="http://dealstreetasia.com/tag/mintifi" target="_blank" rel="noopener">Mintifi</a>.</article>

<a href="http://dealstreetasia.com/tag/ifc" target="_blank" rel="noopener">International Finance Corporation</a>, a part of the <a href="http://dealstreetasia.com/tag/world-bank" target="_blank" rel="noopener">World Bank Group</a>, is considering an equity investment of up to $8 million in financial technology startup <a href="http://dealstreetasia.com/tag/mintifi" target="_blank" rel="noopener">Mintifi</a>.
Mintifi enables financing to small and medium businesses by leveraging technology to aggregate and utilise operational data as a key part of the credit underwriting process.
The proposed investment is targeted at helping the Mumbai-based firm to grow and scale its business, IFC said in a disclosure. The IFC team has devised an advisory project to help Mintifi in its next phase of growth with focus on scaling up the business, upgrading technology, enhancing risk and portfolio management, and improving corporate governance.
&#8220;The project would help provide uncollateralised small-sized working capital credit MSMEs to effectively reach underserved segments,&#8221; IFC said.
Beyond the investment, IFC anticipates that the investment will promote systemic changes in the market by demonstrating the validity of a specialised, technology- and anchor-driven business model as a way to reach large segments of excluded MSMEs. It will also enable financial service providers to effectively lend to these segments through its platform, it added.
Early last year, the online lending startup had reportedly raised $2 million in a seed round from impact investment firm Lok Capital.
IFC has been an active investor in India for many decades and has a special focus on the financial services space in the country. In November last year, the investment firm said, it was considering a proposal to invest up to $50 million in the form of a loan in Ujjivan Small Finance Bank. That same month it also proposed to invest up to $20 million in Suryoday Small Finance Bank.
In May 2018, IFC had also said it was considering a loan proposal of up to $150 million for HDB Financial Services Ltd, a subsidiary of private sector’s HDFC Bank. Prior to that, it had proposed to offer long-tenor debt of about $20 million to Kolkata-based Arohan Financial Services Pvt. Ltd.
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International Finance Corporation, a part of the World Bank Group, is considering an equity investment of up to $8 million in fintech startup Mintifi.

IFC considers proposal to invest up to $8m in Indian fintech startup Mintifi

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IFC considers proposal to invest up to $8m in Indian fintech startup Mintifi

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