Infinity Fincorp Solutions, a Mumbai-based non-banking financial company (NBFC) has raised $35 million (around ₹300 crore) in a Series A funding round led by existing investor Jungle Ventures to boost its micro, small and medium enterprises (MSMEs) lending outreach.
The funding also saw participation from two other existing investors Archerman Capital and Magnifico. This strategic investment boosts Infinity’s net worth to ₹530 crore.
“We are extremely grateful to all our investors who are supporting us in our mission to serve the vastly underserved MSME sector. This fundraise significantly bolsters our capital position with Infinity’s net worth at INR 530 Cr and capital adequacy at 62% as against a regulatory requirement of 15%. Aided by the capital raise, our AUM crossed the ₹1,000-crore milestone,” said Shrikant Ravalkar, founder, managing director and CEO of Infinity.
“We remain committed to serving the vast untapped MSME landscape of India which has a potential credit gap of ₹78 lakh crore. 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,” he added.
Arpit Beri, Partner, India Investments at Jungle Ventures, said, “Our decision to double down on Infinity is a testament to their exceptional execution and ability to deliver in the MSME-secured lending space. While the broader market faces challenges, Infinity’s disciplined approach and high-quality portfolio stand out.”
Founded in 2016 by Shrikant Ravalkar, Infinity Fincorp provides credit access to a diverse range of businesses in Tier III and IV cities. Currently operating in eight States, Infinity lends to micro-entrepreneurs like tea shop owners, vegetable vendors, electricians, plumbers, and small manufacturers.
Operating across eight states with a network of 120 branches, Infinity claims to have disbursed Rs 562 crore ($65.4 million) over the last 12 months.
It has surpassed ₹1,000 crore in Assets Under Management (AUM) as of November 2024, a 33% growth since March 2024. The company plans to grow its AUM to over ₹1,300 crores by March 2025.
