Infinity Fincorp secures USD 8 mn funding from Archerman Capital

New Delhi: Non-banking finance company Infinity Fincorp on Thursday said it has secured an additional USD 8 million in funding from Archerman Capital.

"Infinity Fincorp Solutions (Infinity), a leading RBI-registered NBFC (Non-banking finance company) specialising in tailored property loans for MSMEs has secured an additional USD 8 million from Archerman Capital as an extension to the USD 26 million funding round led by Jungle Ventures, a Singapore-based independent VC firm, earlier this month," a statement said.

This brings the total fund raised in the round to USD 34 million, and the total Assets Under Management (AUM) of the company to Rs 800 crore (USD 100 million). Earlier this month, it was announced that Infinity raised USD 26M in fresh funding led by Jungle Ventures, with participation from Magnifico, a high-net-worth 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.

Infinity Fincorp enables credit access to a diverse range of businesses, including tea shop owners, vegetable vendors, small machine enterprises, besides financially underserved small-scale manufacturers.

The NBFC currently operates through 88 branches across eight states. The company's total loan book stands at Rs 800 crore across over 20,000 customers as of March 2024, and this figure is projected to grow to Rs 1,300 crore (USD 160 million) by March 2025, the company said.