Infinity Fincorp Solutions, an non-banking financial company (NBFC), has raised $35 million from Jungle Ventures, with participation from Archerman Capital and Magnifico.

This investment boosts Infinity’s net worth to Rs 530 crore, the company said in a statement.

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, the company lends to micro-entrepreneurs like tea shop owners, vegetable vendors, electricians, plumbers, and small manufacturers. 

Infinity has disbursed Rs 562 crore over the last 12 months; and claims to have surpassed Rs 1,000 crore in assets under management (AUM) as of November 2024 -- a 33% growth since March 2024.

“This fundraise significantly bolsters our capital position with Infinity’s net worth at Rs 530 crore and capital adequacy at 62% as against a regulatory requirement of 15%,” said Ravalkar, founder, MD and CEO of Infinity.

"The company aims to grow its AUM to over Rs 1300 crore by March 2025."

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.”

The company has reported a profit of Rs 26 crore for FY24 and aims to post Rs 47 crore profit for FY25.