Under the general trend of innovative development and digital technology-enabled financial industry, how to use digital inclusive finance to promote enterprises' anti-risk ability and stimulate the innovation vitality of small and medium-sized enterprises has become a research hotspot in this field. In this study, enterprises listed on GEM from 2011 to 2020 were taken as the research object, and combined with the data of digital inclusion finance of Peking University at city level, the fixed-effect panel model was adopted to discuss the influence of digital inclusion finance on enterprises' innovation ability and anti-risk ability. It is found that digital inclusive finance can positively affect enterprise innovation and enterprise anti-risk ability, and this conclusion is still valid after the robustness and endogeneity test. Through the intermediary effect test, this study also found that digital financial inclusion can promote enterprise innovation and improve enterprise anti-risk ability by improving capital mismatch. In addition, as the degree of marketization becomes more and more perfect, digital inclusive finance plays a more significant role in promoting enterprises' innovation input, but has a weak positive regulating effect on enterprises' anti-risk ability. The results of this study enrich the research on digital financial inclusion, further affirm the positive externality of digital financial inclusion, and provide a new way to promote enterprise innovation and improve enterprise anti-risk ability.