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Economic Times
10-07-2025
- Business
- Economic Times
Partners Group to acquire majority stake in Infinity Fincorp for Rs 1,950 crore
ETtech Shrikant Ravalkar, Founder, MD & CEO Infinity. Swiss private equity firm Partners Group will acquire a majority stake in Infinity Fincorp Solutions, a Mumbai-based non-bank lender focused on MSMEs, through an investment of Rs 1,950 crore (around $230 million), the companies said on deal, which includes participation from existing shareholder Jungle Ventures, comprises a primary infusion of Rs 600 crore ($70 million) and a secondary purchase of shares from Indium IV (Mauritius) Holdings and other shareholders. ET first reported on the potential transaction on June 20. 'Infinity Fincorp Solutions, a leading non-bank lender in India, has entered into a share purchase and subscription agreement with Partners Group, whereby Partners Group will acquire a significant majority stake in the company,' said the joint statement issued by the two companies on Fincorp plans to use the fresh capital to expand its branch network, invest in technology, and improve customer onboarding and experience. The investment is subject to regulatory approvals. '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 a long-term impact,' said Shrikant Ravalkar, founder, managing director and CEO of Infinity Fincorp. 'We welcome Partners Group and intend on leveraging their operational expertise to further broad base our mission of serving the Indian MSME sector.' Founded in 2017, Infinity Fincorp provides secured loans to micro, small, and medium enterprises, primarily in tier II and tier III cities. The company has more than Rs 1,200 crore ($140 million) in assets under management, around 50,000 customers, and operates over 120 branches across eight states. Its customer base spans sectors such as agriculture, manufacturing, and trading. "The MSME segment contributes a significant share of national GDP, and we expect demand for credit will continue to rise. We believe non-bank lenders such as Infinity have advantages in catering to these enterprises due to their highly specialised operations, which are better suited to providing customised solutions,' said Vageesh Gupta, managing director, private equity, Partners to Tracxn, Infinity Fincorp posted a net profit of Rs 25.72 crore in FY24, on revenue of Rs 143.7 latest funding comes after Infinity Fincorp raised $40 million in an extended Series A round in April that was led by Beams Fintech Fund, with participation from True North, Jungle Ventures, and Archerman Capital. In January, the company had raised $35 million from Jungle Ventures, Archerman Capital, and Magnifico. Partners Group, which manages over $150 billion in assets globally, has previously invested in Indian companies such as Darwinbox, Ecom Express, and Vishal Mega Mart. In April, the firm exited Ecom Express by selling its stake to Delhivery in an all-cash deal worth Rs 1,407 crore, alongside co-investors Warburg Pincus and British International Investment. The firm has deployed $2.5 billion in India to date. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Markets need to see more than profits from Oyo Can Grasim's anti-competition charge against Asian Paints stand amid intense war Engine fuel switches or something else? One month on, still no word on what crashed AI 171 Delhivery survived the Meesho curveball. Can it keep on delivering profits? Stock Radar: Page Industries breaks out from Cup & Handle formation; stock hits fresh 52-week high For risk-takers with ability to stay invested for the long term: 5 small-caps from different sectors with upside potential of 5 to 32% Multibagger or IBC - Part 14: This auto ancillary with double-digit net margins is now getting EV-focused These mid-cap stocks with 'Strong Buy' & 'Buy' recos can rally over 25%, according to analysts
Time of India
10-07-2025
- Business
- Time of India
Partners Group to acquire majority stake in Infinity Fincorp for Rs 1,950 crore
The deal, which includes participation from existing shareholder Jungle Ventures, comprises a primary infusion of Rs 600 crore ($70 million) and a secondary purchase of shares from Indium IV (Mauritius) Holdings and other shareholders. Infinity Fincorp plans to use the fresh capital to expand its branch network, invest in technology, and improve customer onboarding and experience. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Swiss private equity firm Partners Group will acquire a majority stake in Infinity Fincorp Solutions, a Mumbai-based non-bank lender focused on MSMEs, through an investment of Rs 1,950 crore (around $230 million), the companies said on deal, which includes participation from existing shareholder Jungle Ventures, comprises a primary infusion of Rs 600 crore ($70 million) and a secondary purchase of shares from Indium IV (Mauritius) Holdings and other shareholders. ET first reported on the potential transaction on June 20.'Infinity Fincorp Solutions, a leading non-bank lender in India, has entered into a share purchase and subscription agreement with Partners Group, whereby Partners Group will acquire a significant majority stake in the company,' said the joint statement issued by the two companies on Fincorp plans to use the fresh capital to expand its branch network, invest in technology, and improve customer onboarding and experience. The investment is subject to regulatory approvals.'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 a long-term impact,' said Shrikant Ravalkar, founder, managing director and CEO of Infinity Fincorp. 'We welcome Partners Group and intend on leveraging their operational expertise to further broad base our mission of serving the Indian MSME sector.'Founded in 2017, Infinity Fincorp provides secured loans to micro, small, and medium enterprises , primarily in tier II and tier III cities. The company has more than Rs 1,200 crore ($140 million) in assets under management, around 50,000 customers, and operates over 120 branches across eight states. Its customer base spans sectors such as agriculture, manufacturing, and trading."The MSME segment contributes a significant share of national GDP, and we expect demand for credit will continue to rise. We believe non-bank lenders such as Infinity have advantages in catering to these enterprises due to their highly specialised operations, which are better suited to providing customised solutions,' said Vageesh Gupta, managing director, private equity, Partners to Tracxn, Infinity Fincorp posted a net profit of Rs 25.72 crore in FY24, on revenue of Rs 143.7 latest funding comes after Infinity Fincorp raised $40 million in an extended Series A round in April that was led by Beams Fintech Fund, with participation from True North, Jungle Ventures, and Archerman Capital. In January, the company had raised $35 million from Jungle Ventures, Archerman Capital, and Group, which manages over $150 billion in assets globally, has previously invested in Indian companies such as Darwinbox, Ecom Express, and Vishal Mega Mart . In April, the firm exited Ecom Express by selling its stake to Delhivery in an all-cash deal worth Rs 1,407 crore, alongside co-investors Warburg Pincus and British International Investment. The firm has deployed $2.5 billion in India to date.
Entrepreneur
10-07-2025
- Business
- Entrepreneur
Partners Group to Acquire Majority Stake in Infinity Fincorp for INR 1,950 Cr
Infinity is expected to deploy the INR 600 crore primary infusion to accelerate branch rollouts, enhance technology platforms, and improve customer onboarding and experience. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a major private equity move, global private markets investment firm Partners Group is set to acquire a significant majority stake in Mumbai-based Infinity Fincorp Solutions for INR 1,950 crore, making it one of the largest NBFC transactions in India this year. The existing shareholder Jungle Ventures also participated in the round. The deal includes a primary capital infusion of INR 600 crore along with a secondary purchase from Indium IV (Mauritius) Holdings Limited, a Fund managed by Global Opportunity Advisors (Mauritius) Limited which is advised by True North Managers LLP and other shareholders. Infinity, a growing NBFC, provides secured loans to small businesses and entrepreneurs across 120+ branches in eight states. The firm boasts assets under management (AUM) of INR 1,200+ crore and serves around 50,000 customers, many from underserved tier II and III towns engaged in agriculture, trade, and manufacturing. "We are dedicated to empowering entrepreneurs and business owners across tier III towns in India," said Shrikant Ravalkar, Founder, MD and CEO 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." According to Vageesh Gupta, Managing Director at Partners Group, "The MSME segment contributes a significant share to India's GDP. We believe non-bank lenders like Infinity are best positioned to serve these businesses through specialised, localised lending models." Infinity is expected to deploy the INR 600 crore primary infusion to accelerate branch rollouts, enhance technology platforms, and improve customer onboarding and experience. The transaction is subject to regulatory approval from the Reserve Bank of India (RBI). Nitin Nayak, board nominee of Indium IV, added, "Infinity has scaled up remarkably within a few years, demonstrating strong credit quality and profitability. The management team's understanding of MSME credit needs is exceptional." Murali Krishnan Nair, Partner at Partners Group, highlighted the firm's prior success with Aavas Financiers and stated, "We bring both capital and operational experience. Infinity's employee-centric culture and market understanding give us a strong platform for the next phase of growth." Arpit Beri of Jungle Ventures said, "Infinity is scaling rapidly with discipline and innovation. We are excited to continue our partnership." Sagar Agrawal, Managing Partner at Beams Fintech Fund, noted, "This transaction validates Infinity's business model and its consistent performance in the Micro-LAP segment." Avendus Capital acted as the exclusive financial advisor to Infinity and Indium IV on the deal. This acquisition marks Partners Group's strategic entry into India's high-growth NBFC landscape, a sector gaining momentum with the government's push for MSME credit, digitalisation, and financial inclusion.
Yahoo
06-07-2025
- Business
- Yahoo
Hundreds of staff unpaid after £1bn AI start-up goes bust
Hundreds of former staff at a collapsed AI company once worth £1bn have been left unable to access redundancy payments amid talks over a fire sale of its assets. Workers claim to have been left in limbo after being let go from the failed British AI champion in May. While Builder AI has filed for bankruptcy in the US, it has yet to appoint administrators in Britain where its main operations were based. This has meant around 200 UK-based staff cannot claim redundancy pay from the Insolvency Service, which requires a case number normally supplied by restructuring advisers in the event of an administration. A Builder AI spokesman said it was 'aware of the frustration' of staff, and confirmed investors and creditors were in advanced talks over a potential pre-pack administration, which would see its remaining assets and technology sold. Builder AI has been lining up Alvarez & Marsal, a restructuring consultancy, to handle the administration. One former Builder AI employee complained that they had been left in the dark during the process. They said: 'There's been no communication, no proper closure, and without the right paperwork, a lot of us still can't access the financial help we need.' Former UK employees have not received any money since April. The Telegraph understands that Jungle Ventures, Lakestar and US fund Insight Partners are among the parties involved in advanced talks to salvage parts of the business in a pre-pack deal. Such a deal should raise money to return funds to creditors, including ex-staff. Sachin Dev Duggal, Builder AI's founder, is also understood to have explored launching a rescue bid alongside other investors. However, a source close to the talks said this approach was rebuffed. Builder AI was backed by Microsoft and Qatar's sovereign wealth fund, and reached a valuation of $1.5bn (£1.1bn), making it one of Britain's rare 'unicorns' – a private tech company worth more than a billion. But it collapsed in May after lenders pulled tens of millions of pounds in funding amid claims that promised sales had come in far below expectations. The start-up was founded by 42-year-old Mr Duggal in 2016, and developed what he called 'human-assisted AI'. A chatbot called Natasha was assisted by human contractors to help customers, including the BBC, build apps cheaply. The venture unravelled after it emerged that sales forecasts had been wildly unrealistic. The business had predicted sales of $220m in 2024 when raising money from lenders. Sales for that year ultimately came in at around $50m. Mr Duggal was ousted in February and replaced by Manpreet Ratia, of investor Jungle Ventures. The company's lenders, including tech investor Viola Credit, then pulled $40m from the business's accounts, citing covenant breaches. That decision left the business with almost no cash available to pay staff. The Telegraph understands that New York prosecutors had issued a subpoena to Builder AI prior to its collapse for information about its accounting practices. The Financial Times reported that an investigation into the sales shortfall at Builder AI had raised concerns over potentially inflated sales and circular transactions in past years. A spokesman for Mr Duggal declined to comment. On LinkedIn, he said last month: 'There was no round-tripping,' referring to the allegations of circular transactions. A spokesman for Builder AI said: 'We are working closely with the US administrator to initiate liquidation proceedings for the UK entity. 'The company has actively explored the option of a pre-packaged administration. The company has been actively seeking funding from existing stakeholders. We are now at the conclusion of this process and expect to proceed with formal filings in the UK next couple of weeks.' Alvarez & Marsal and Lakestar declined to comment. Insight Partners was contacted for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
06-07-2025
- Business
- Telegraph
Hundreds of staff unpaid after £1bn AI start-up goes bust
Hundreds of former staff at a collapsed AI company once worth £1bn have been left unable to access redundancy payments amid talks over a fire sale of its assets. Workers claim to have been left in limbo after being let go from the failed British AI champion in May. While Builder AI has filed for bankruptcy in the US, it has yet to appoint administrators in Britain where its main operations were based. This has meant around 200 UK-based staff cannot claim redundancy pay from the Insolvency Service, which requires a case number normally supplied by restructuring advisers in the event of an administration. A Builder AI spokesman said it was 'aware of the frustration' of staff, and confirmed investors and creditors were in advanced talks over a potential pre-pack administration, which would see its remaining assets and technology sold. Builder AI has been lining up Alvarez & Marsal, a restructuring consultancy, to handle the administration. One former Builder AI employee complained that they had been left in the dark during the process. They said: 'There's been no communication, no proper closure, and without the right paperwork, a lot of us still can't access the financial help we need.' Former UK employees have not received any money since April. The Telegraph understands that Jungle Ventures, Lakestar and US fund Insight Partners are among the parties involved in advanced talks to salvage parts of the business in a pre-pack deal. Such a deal should raise money to return funds to creditors, including ex-staff. Sachin Dev Duggal, Builder AI's founder, is also understood to have explored launching a rescue bid alongside other investors. However, a source close to the talks said this approach was rebuffed. Builder AI was backed by Microsoft and Qatar's sovereign wealth fund, and reached a valuation of $1.5bn (£1.1bn), making it one of Britain's rare 'unicorns' – a private tech company worth more than a billion. But it collapsed in May after lenders pulled tens of millions of pounds in funding amid claims that promised sales had come in far below expectations. The start-up was founded by 42-year-old Mr Duggal in 2016, and developed what he called 'human-assisted AI'. A chatbot called Natasha was assisted by human contractors to help customers, including the BBC, build apps cheaply. The venture unravelled after it emerged that sales forecasts had been wildly unrealistic. The business had predicted sales of $220m in 2024 when raising money from lenders. Sales for that year ultimately came in at around $50m. Mr Duggal was ousted in February and replaced by Manpreet Ratia, of investor Jungle Ventures. The company's lenders, including tech investor, Viola Credit, then pulled $40m from the business's accounts, citing covenant breaches. That decision left the business with almost no cash available to pay staff. The Telegraph understands that New York prosecutors had issued a subpoena to Builder AI prior to its collapse for information about its accounting practices. The Financial Times reported that an investigation into the sales shortfall at Builder AI had raised concerns over potentially inflated sales and circular transactions in past years. A spokesman for Mr Duggal declined to comment. On LinkedIn, he said last month: 'There was no round-tripping,' referring to the allegations of circular transactions. A spokesman for Builder AI said: 'We are working closely with the US administrator to initiate liquidation proceedings for the UK entity. 'The company has actively explored the option of a pre-packaged administration. The company has been actively seeking funding from existing stakeholders. We are now at the conclusion of this process and expect to proceed with formal filings in the UK next couple of weeks.'
