Infinity Fincorp Solutions, a leading RBI-registered NBFC specialising in tailored property loans for MSMEs has secured an additional $8M from Archerman Capital as an extension to the $26M funding round led by Jungle Ventures, a Singapore-based independent VC firm, earlier this month.
This brings the total fund raised in the round to $34M, and the total AUM of the company to INR 800 crores (~$100M).
Earlier this month, it was announced that Infinity raised $26M in fresh funding led by Jungle Ventures, with participation from Magnifico, a high-networth investor group, to accelerate its mission of extending accessible credit to micro entrepreneurs and small businesses in tier 3 and 4 cities and towns across India.
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The segment, comprising approximately 6.3 crore businesses, has been a key driver of economic growth, and is expected to contribute USD 2T to the nation’s GDP target of USD 5T.
Founded by Shrikant Ravalkar in 2016, Infinity has experienced incredible growth trajectory. Currently operating a total of 88 branches across eight states in India, the company’s total loan book stands at INR 800 crores (USD 100M) crores across 20,000+ customers as of March 2024, and this figure is projected to grow to INR 1,300 crore (USD 160M) by March 2025.
Commenting on the extension, Shrikant Ravalkar, Founder, Managing Director and CEO of Infinity said, “We are thankful to Archerman Capital for believing in the Infinity growth story. The current equity fund raise, whereby we were able to attract global VC funds stands as a testament to Infinity’s strategic focus and its peerless execution capabilities. We are humbled and excited to have Archerman Capital and Jungle Ventures as our equity partners.
Infinity is at the cusp of a multi-year compounding growth journey; with our in-house capabilities to serve the Indian MSMEs and access to growth capital from our marquee investors, we will deepen our footprint and accelerate our mission of extending credit to MSMEs across the country.
I also express my deepest gratitude to Indium IV for their unwavering support and the employees and partners of Infinity for their stupendous efforts, without whom we would not have been able to scale such heights.”
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Darshit Vora, Partner at Archerman Capital, added, “We are excited to partner with Shrikant and his team as they embark on the journey of establishing a top-tier MSME credit franchise. The MSME sector stands as a cornerstone of India’s growth narrative, and with Infinity’s execution excellence, they are well positioned to seize this significant opportunity.”
Nitin Nayak, nominee of Indium IV on Infinity’s board, said, “We are proud and honored to be part of Infinity’s growth journey, which is still in its early stages, as the firm goes through a remarkable growth trajectory. The management team at Infinity has deep understanding of the affordable lending sector in semi urban India and has built a strong business model to leverage the same, while delivering healthy profitability. We extend our sincere thanks and a warm welcome to our new investors in this journey.”
About Infinity Fincorp Solutions
The company was incorporated in November 2016 and is a RBI-registered NBFC. Infinity specializes in tailored property loans designed specifically for the MSME segment in India. MSME as a segment has seen tremendous growth and has emerged as a vibrant sector of the Indian economy. India has approximately 6.3 crore MSMEs and is expected to contribute USD 2 trillion to the Indian GDP target of USD 5 trillion.
About Jungle Ventures
Jungle Ventures is a Singapore-based venture capital firm focused on early to growth-stage companies in Southeast Asia and India, with a focus on building long lasting businesses. Jungle partners with the region’s most exciting founders to build high growth, capital-efficient technology businesses, and supports their growth from seed to unicorn, and IPO stage. Our portfolio includes regional and global category leaders like Kredivo, Moglix, Livspace, Builder.ai, Atomberg, and more.
About Archerman Capital
Archerman Capital is a global growth equity investor that invests across multiple stages in TMT, deep tech and financial services. The firm is headquartered in Boston and has offices in Hong Kong and Bangalore. Their India portfolio includes the likes of Delhivery, KreditBee and OLA Electric.
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