The other co-founder, Alok Mittaland the CEO of the company, Sangram Singhwill continue to lead the small business-focused lending company.
In a post on social media platform LinkedIn, Mahanot said: “While I am stepping away from day-to-day operations, I will remain involved as a shareholder and maintain my responsibilities on the board of directors.”
He did not reveal what he plans to do next.
Before founding Indifi, Mahanot worked for Citibank, Indiabulls Home Finance and Edelweiss Financial Services.
Indifi had named the former axle bench Senior executive Sangram Singh as its CEO in December 2023.
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The Gurgaon-based company raised around $35 million in its latest equity funding in June 2023. Since its inception, it has raised around $90 million from investors such as Omidyar Network, ICICI Ventures, British International Investment and Flourish Ventures. market in 2015, obtained its non-banking financial company (NBFC) license in 2017 and started building its own credit portfolio. As of March 2024, Indifi Capital, the in-house NBFC, had total assets under management of Rs 1,729 crore and reported total income of Rs 341 crore for 2023-24. It reported a net profit of Rs 3 crore for the financial year.
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