Swiss PE firm Partners Group to acquire majority stake in Infinity Fincorp for Rs 1,950 crore

Swiss private equity firm Partners Group has agreed to acquire a significant majority stake in Infinity Fincorp Solutions, a Mumbai-based non-bank financial company (NBFC), through an investment of Rs 1,950 crore (approximately $230 million), the firms announced on Wednesday.

The transaction, acting on behalf of clients of Partners Group, combines a ₹600 crore primary capital infusion with a secondary share purchase from Indium IV (Mauritius) Holdings, a vehicle managed by Global Opportunity Advisors and advised by True North Managers LLP. The deal also saw participation from certain existing shareholders, including Jungle Ventures.

Infinity Fincorp, founded in 2017, provides secured loans to micro, small, and medium enterprises (MSMEs), predominantly in Tier II and III cities across India. It currently operates more than 120 branches in eight states and serves approximately 50,000 customers. The company has more than Rs 1,200 crore (about $140 million) in assets under management and reported a net profit of Rs 25.7 crore in FY24 on revenues of Rs 143.7 crore, according to data from Tracxn.

The company’s clientele spans agriculture, trading, and manufacturing sectors, with a focus on entrepreneurs in smaller towns who are underserved by traditional banks. Its lending model emphasizes personalized, secured credit offerings aimed at enabling sustainable business growth.

The fresh capital will support Infinity’s expansion plans, including accelerated branch rollouts, technology upgrades to streamline customer onboarding, and improved operational efficiencies. The firm is also exploring investments in AI-driven systems to enhance customer experience.

“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.”

The investment marks Partners Group’s continued interest in India’s financial services landscape. The firm previously acquired affordable housing lender Aavas Financiers in 2016 and exited the investment in early 2025. Drawing on its experience with Aavas, Partners Group plans to implement a similar value creation strategy at Infinity, including digital transformation and scale expansion.

“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.”

Murali Krishnan Nair, a member of management in private equity at Partners Group, added that Infinity’s employee-centric culture and deep market understanding provide “a strong foundation to build a lasting, high-quality institution.”

The transaction, which is subject to customary regulatory approvals, brings Partners Group’s total capital deployed in India to $2.5 billion. The firm, which manages over $150 billion in assets globally, has previously backed Indian companies including Darwinbox, Ecom Express, and Vishal Mega Mart.

Infinity’s latest funding follows its $40 million Series A extension in April, led by Beams Fintech Fund, and a $35 million round in January from Jungle Ventures and others. The company employs more than 1,500 people across India.