Funding Alert

Infinity Fincorp Secures Additional $8M Funding from Archerman Capital, Extending Total Round to $34M

• ByStartupStory     |    May 2, 2024

Infinity Fincorp Solutions (“Infinity”), a leading RBI-registered Non-Banking Financial Company (NBFC) specializing in tailored property loans for Micro, Small, and Medium Enterprises (MSMEs), has announced an extension of its recent funding round with an additional $8M investment from Archerman Capital. This supplementary investment follows a $26M funding round led by Jungle Ventures earlier this month.

The new funding brings the total amount raised in this round to $34M, significantly boosting Infinity’s total Assets Under Management (AUM) to INR 800 crores (approximately $100M).

Founder, Managing Director, and CEO of Infinity, Shrikant Ravalkar, expressed gratitude towards Archerman Capital, stating, “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.”

Distinguished Focus on MSME Credit Access

Infinity has set itself apart by facilitating credit access for a diverse array of businesses, including tea shop owners, vegetable vendors, small machine enterprises, restaurants, provision stores, textile shops, electricians, plumbers, carpenters, milkmen, laundry service providers, hairdressers, and financially underserved small-scale manufacturers. This focused approach has contributed significantly to Infinity’s substantial growth over the past four years, supporting the burgeoning MSME segment in India.

Nitin Nayak, nominee of Indium IV on Infinity’s board, remarked, “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.”

Pioneering Growth in MSME Sector

The MSME sector, comprising approximately 6.3 crore businesses, is a key driver of India’s economic growth, expected to contribute USD 2 trillion towards the nation’s GDP target of USD 5 trillion.

Darshit Vora, Partner at Archerman Capital, shared his enthusiasm for the partnership, saying, “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.”

Projected Expansion and Impact

Founded in 2016 by Shrikant Ravalkar, Infinity currently operates 88 branches across eight states in India. The company’s total loan book stands at INR 800 crores across more than 20,000 customers as of March 2024, with projections to reach INR 1,300 crores by March 2025.

Infinity’s mission is to deepen its footprint and accelerate credit access to MSMEs across the country, leveraging its in-house capabilities and growth capital from marquee investors.

Infinity’s growth trajectory underscores its commitment to supporting the economic backbone of India through innovative financial solutions tailored to the needs of micro entrepreneurs and small businesses in tier 3 and 4 cities and towns.

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