Mumbai, May 2 (KNN) Mumbai-based non-banking financial company (NBFC) Infinity Fincorp Solutions has raised an additional USD 8 million in funding from Archerman Capital.

The NBFC plans to utilise the funds to expand credit accessibility for micro-entrepreneurs and small businesses in Tier III and IV cities and towns across India.

This investment is an extension of Infinity's $26 million funding round led by Jungle Ventures and Magnifico last month, bringing the total amount raised in this round to $34 million.

Shrikant Ravalkar, Founder, Managing Director and CEO, Infinity Fincorp, expressed his delight at attracting global venture capital funds, calling it a testament to the company's strategic focus and execution capabilities.

He emphasised, “We will deepen our footprint and accelerate our mission of extending credit to MSMEs across the country.”

Darshit Vora, Partner, Archerman Capital, praised the MSME sector as a cornerstone of India's growth narrative and expressed confidence in Infinity's execution excellence to seize this significant opportunity.

Founded by Ravalkar in 2016, Infinity offers tailored property loans designed specifically for the MSME segment in India.

Currently, it operates a total of 88 branches across eight states. The company's total loan book stands at USD 100 million across 20,000+ customers as of March 2024, and it aims to grow to USD 160 million by March 2025.

(KNN Bureau)