Beams Fintech Fund, a growth-stage private equity firm that invests in financial services and financial technology companies, said Wednesday it has invested in non-bank lender Infinity Fincorp Solutions Pvt Ltd.
The PE firm invested in Infinity’s as part of the company’s extended Series A funding round, it said in a statement. While Beams did not disclose the quantum of its investment, the total size of the round was $40 million (about Rs 342 crore).
The announcement comes months after the non-bank lender said in January that it closed its extended Series A round after raising $35 million (Rs 300 crore). The round was led by Southeast Asia and India-focussed venture capital firm Jungle Ventures. Global growth equity investor Archerman Capital and Magnifico, an investment group of high-net worth individuals, also participated in the round, Infinity said at the time.
Infinity also counts PE firm True North as an investor. True North first invested in the lender in 2016 and topped up its investment in 2017 and 2018.
Beams also said this is its sixth investment. The PE firm has previously invested in InsuranceDekho, SK Finance, NiYO Solutions, Credgenics and Progcap. It reinvested in InsuranceDekho last month, leading a $70-million round.
Infinity Fincorp provides loans of Rs 3-5 lakh to underserved micro-entrepreneurs like tea shop owners, vegetable vendors, small machine enterprises, restaurants, provision stores and many other businesses.
The non-bank lender has a presence in 127 branches across eight states - Andhra Pradesh, Tamil Nadu, Telangana, Madhya Pradesh, and Rajasthan.
Infinity will utilise the latest funding for expanding the loan book and increasing its presence across the six states. The non-bank lender had a loan book of over Rs 1,100 crore as of January 2025 and likely closed FY25 at Rs 1,250 crore.
“This fundraise significantly bolsters our capital position with Infinity’s net worth now above Rs 600 crore and capital adequacy is 50%, much above the regulatory requirement of 15%,” said Shrikant Ravalkar, Infinity’s managing director and chief executive officer.