Up-conversion nanoparticles have garnered lots of attention due to their ability to transform low energy light (near-infrared) into high-energy (visible) light, enabling their potential use as remote visible light nano-transducers. However, their low efficiency restricts their full potential. To overcome this disadvantage, fluoroindate glasses (InF₃) doped at different molar concentrations of Yb³⁺ and Er³⁺ were obtained using the melting–quenching technique, reaching the highest green emission at 1.4Yb and 1.75Er (mol%), which corresponds to the ⁴S_3/2 → ⁴I_15/2 (540–552 nm) transition. The particles possess the amorphous nature of the glass and have a high thermostability, as corroborated by thermogravimetric assay. Furthermore, the spectral decay curve analysis showed efficient energy transfer as the rare-earth ions varied. This was corroborated with the absolute quantum yield (QY) obtained (85%) upon excitation at 385 nm with QYEr = 17% and QYYb = 68%. Additionally, InF₃–1.4Yb–1.75Er was milled and functionalized using poly(ethylene glycol) to impart biocompatibility, which is essential for biomedical applications. Such functionalization was verified using FTIR, TG/DSC, and XRD.