Mumbai: MODIFI, a global leader in cross-border B2B trade finance and payments solutions, announced bold expansion plans for India in reinforcing its strategic commitment to one of its fastest-growing markets.
MODIFI has earmarked Rs 50 crore to finance over 5,000 SMEs across India in the next 2-3 years, with these efforts being bolstered by partnerships with prominent organisations like the SME Chamber of India and the Maharashtra Industry Development Association (MIDA).
With an impressive 38% y-o-y growth, the Amsterdam-headquartered fintech is eyeing a significant increase in its India business in 2025 where, as part of its strategy, MODIFI will invest a significant part of its recently-raised $15 million Series C funding to fuel this growth with focus on deepening local operations, said Matthias Hendrichs, Chief Commercial Officer, MODIFI Global.
Having facilitated over $3 billion in global trade across 1,800+ trading partners in 55+ countries since its inception, India remains pivotal to MODIFI’s global expansion journey since opening here in 2019 — making it the first international market outside Europe, Hendrichs said.
He said that in alignment with the government’s “Make in India” initiative, MODIFI’s digital financing solutions address the working capital challenges faced by SMEs, and eliminate the need for collateral, streamline access to global markets, and enable businesses to compete internationally with confidence.
“India has always been the cornerstone of our international operations and our remarkable growth here is a testament to the resilience of Indian SMEs and their critical role in the global supply chain. With our latest funding, we are doubling down on our India operations to meet the increasing demand for flexible, digital trade finance solutions,” Hendrichs noted.
Replying to questions, Hendrichs said that while India, China and the Middle East remained the three focus markets for MODIFI, “India is our first and key export global market outside of Europe.”
Describing MODIFI’s India focus covering recently ‘renewables (solar energy), plastics and packaging, he said “One of our such successes highlights GE buying Indian turbines.”
“Our present thrust is on India’s SME segment for strategic and fast-growing sectors like renewables, textiles, and plastic and packaging (for which one of our customers is into related recycling),” Hendrichs added.
Pulkit Kapil, Senior Director of National sales at MODIFI India, said “Our goal is to make trade finance accessible, simple and effective for Indian exporters by prioritizing key sectors like packaging, plastics and renewables, while also empowering local industries and enhancing India’s competitiveness on the global stage.
