Swiss PE firm Partners to buy stake in Infinity Fincorp for $230 million

Swiss private equity firm Partners Group has agreed to acquire a significant majority stake in Mumbai-based non-banking financial company Infinity Fincorp Solutions through an investment of RS1,950 crore (about $230 million), the companies announced on Wednesday.

The deal involves a Rs600 crore primary capital infusion and a secondary share purchase from Indium IV (Mauritius) Holdings, managed by Global Opportunity Advisors and advised by True North Managers LLP. Current investors, including Jungle Ventures, also were part of the transaction.

Infinity Fincorp, founded in 2017, provides secured loans to micro, small, and medium enterprises (MSMEs), primarily in Tier II and Tier III cities. The company has more than 120 branches across eight states, and has around 50,000 customers. It also manages assets worth more than Rs1,200 crore.

Infinity’s borrowers operate in sectors such as agriculture, trading, and manufacturing. The company’s model is based on offering secured and personalised credit products to entrepreneurs in underserved regions. The latest capital infusion will support expansion through new branches, technology upgrades for customer onboarding, and operational improvements. The firm is also evaluating the use of artificial intelligence to improve customer interactions.

“We are dedicated to empowering entrepreneurs and business owners across Tier 3 towns in India through flexible, need-based lending solutions that are designed to create long-term impact,” said Shrikant Ravalkar, founder, managing director and chief executive of Infinity. “We welcome Partners Group and intend on leveraging their operational expertise to further broad base our mission of serving the Indian MSME sector.”

In 2016, Partners Group had previously acquired housing lender Aavas Financiers and exited that investment in early 2025. Drawing on its experience with Aavas, Partners Group aims to pursue a similar approach at Infinity focused on digital growth and business scale.

“The MSME segment contributes a significant share of national GDP, and we expect demand for credit will continue to rise,” said Vageesh Gupta, managing director, private equity, at Partners Group. “We believe non-bank lenders such as Infinity have advantages in catering to these enterprises due to their highly specialised operations that are better suited to providing customised solutions.”

The transaction is subject to customary regulatory approvals. It brings Partners Group’s total capital deployed in India to $2.5 billion. Globally, the firm manages over $150 billion in assets and has previously invested in Indian companies such as Darwinbox, Ecom Express, and Vishal Mega Mart.

Infinity’s recent funding activity includes a $40 million Series A extension in April led by Beams Fintech Fund, and a $35 million round in January with participation from Jungle Ventures and others. The company currently employs over 1,500 people across the country.