Infinity Fincorp Solutions Secures $40 Million to Empower Small Businesses

Infinity Fincorp Solutions, a non-bank lender, has raised $40 million in a funding round led by Beams Fintech Fund. The company specializes in providing microloans against property to small businesses in tier-3 towns. With 127 branches, Infinity is poised for growth in the micro LAP segment.

Infinity Fincorp Solutions, a non-bank lender, announced a successful fundraise of USD 40 million led by Beams Fintech Fund. The capital will bolster its mission to provide microloans of up to Rs 5 lakh to small businesses in tier-3 towns.

The lender, based in the city, focuses on aiding small businesses such as tea shops and vegetable vendors. Presently, it oversees a loan portfolio exceeding Rs 1,100 crore. "Micro LAP is witnessing substantial growth within the NBFC sector due to heightened credit demands from millions of small enterprises," stated Sagar Agarwal, founder of Beams.

This new influx of capital increases Infinity's capital adequacy to 50%, significantly surpassing the regulatory requirement of 15%. Operating 127 branches across eight states, including Andhra Pradesh and Tamil Nadu, the firm is positioned for further expansion in the burgeoning micro LAP market.

(With inputs from agencies.)