BOV Capital leads Rs.205 mln funding round for IFINITY

BOV Capital, through its Digital Innovation Fund (DIF), recently completed a funding round that raised Rs.205 million for IFINITY (PVT) LTD, a financial solutions provider primarily focused on digital transformation within the BFSI sector.

In addition to helping raise funds, BOV Capital will mentor and guide the highly experienced senior team at IFINITY in opening up new global markets, along with access to future follow-on funding opportunities, it said in a media release.

Kishan Nadarajah, Principal at BOV Capital, said: “We look forward to nurturing the exceptional promise shown by IFINITY. Already a disruptor at the forefront of taking brick and mortar bank branches digital, IFINITY and its partnership with leading European enterprise software firm TEMENOS is centre-stage in shaping the future of the local FSI industry. And we are excited to see where they take us next.”

A first of its kind dedicated technology services provider for the banking and financial service sector, IFINITY embraces a lean-digital agile philosophy to allow financial service institutions to bring in digital transformation at an unprecedented scale. It works towards making banking seamless and invisible, which in turn helps people live richer, more vivid lives.

IFINITY is a subsidiary of NCINGA, a Technology Solutions Provider with a unique Lean and Agile Approach to Digital Transformation, which last year sold its virtual factory operation to a Singapore-based tech unicorn in a landmark deal for Sri Lanka valued at US$ 15.5 million.

“We are pleased to onboard DIF as our strategic partners to strengthen IFINITY’s journey to help banks to become invisible and make banking a seamless lifestyle activity,” said Imal Kalutotage, Chairman of IFINITY.