Siddharth Mahanot, co-founder and executive director of Indifi, a leading digital lending platform, has announced his resignation after a nine-year journey with the company. In a LinkedIn post, Mahanot revealed that he will step down at the end of the month but will continue to serve as a shareholder and remain on the board. His departure marks a significant shift for Indifi, which is backed by major investors like Accel and ICICI Venture.
Mahanot expressed gratitude for his time at Indifi and indicated that he plans to take time off to explore new ventures, though specifics have not been disclosed. He reassured stakeholders that Indifi is in capable hands, with co-founder Alok Mittal and newly appointed CEO Sangram Singh leading the company forward.
Indifi, based in Gurugram, specializes in providing business loans and working capital finance to MSMEs and direct-to-consumer brands. With an active loan book of ₹2,000 crore and over ₹5,100 crore in loans disbursed, the company continues to expand. Sangram Singh, who joined as CEO in December 2023, is focused on scaling the platform and exploring new business lines like supply-chain financing and secured lending.
Key Highlights:
- Siddharth Mahanot Resignation: Co-founder and executive director of Indifi, Mahanot, is stepping down after nine years.
- Leadership Transition: Co-founder Alok Mittal and CEO Sangram Singh will take on enhanced roles, ensuring the company’s continued growth.
- Growth Trajectory: Indifi recently secured ₹290 crore in funding, with plans to explore new business opportunities under Sangram Singh’s leadership.