Infinity - Business banking for cross-border SMBs & Startups

Financial Freedom for Global Businesses: Exploring Infinity’s Comprehensive Banking Platform

What Is Infinity?

Infinity is a groundbreaking business banking platform designed to simplify and optimize banking for cross-border small and medium-sized businesses (SMBs) and startups. Established in 2023 and headquartered in Bengaluru, India, Infinity aims to address the complexities and inefficiencies that global businesses face when managing international payments. With a focus on transparency, speed, and cost-effectiveness, Infinity offers a suite of services that transform how businesses handle cross-border transactions and idle cash management.

Who Are the Founders Behind Infinity?

Infinity was founded by Sourav Choraria and Sidharth Choraria, brothers with a rich background in fintech and technology. Sourav, the CEO of Infinity, has an impressive track record in scaling high-growth startups. Prior to Infinity, he co-founded ClinMD, a healthcare data analytics company, and served as the head of growth at Paytm Money, where he launched India's first FD-backed secured credit card and scaled the platform to 20 million monthly active users.

Sidharth, who brings extensive experience in engineering and product management, previously worked at Amazon, where he launched the Amazon Appstore In-App Purchase (IAP) module. He also developed an instant electronic payment system to pay app developers across 135 countries and was a founding engineer at Paytm Travel, where he handled systems managing 100 million daily requests. His technical expertise and entrepreneurial spirit are integral to Infinity's innovative solutions.

What Problem Does Infinity Solve?

Infinity addresses several critical challenges that businesses face when conducting cross-border payments. These include high costs, slow transfer speeds, compliance risks, and foreign exchange (FX) risks.

High Costs of Global Payments: Traditional FX transactions involve multiple fees, including wire transfer fees, correspondent bank fees, and currency conversion fees. These costs can add up, making global payments prohibitively expensive. On average, businesses lose about 7% of every dollar moved from the US to India.

Slow Transfer Speeds: International bank transfers often take one to five working days due to the involvement of intermediary banks, much like making multiple connecting flights. This delay can hinder business operations and cash flow management.

Compliance Risks: Each cross-border transaction must be reported to the Central Bank of India with the correct documentation, including invoices and purpose codes. Non-compliance can lead to significant delays, sometimes extending to months.

FX Risks: The fluctuating exchange rates between USD and INR mean that the amount received can vary significantly, potentially leading to financial losses if the dollar weakens during the transaction period.

How Does Infinity Provide a Solution?

Infinity offers a comprehensive solution to these challenges by simplifying and optimizing cross-border payments through its innovative platform.

Multiple Local Currency Accounts: Infinity enables businesses to send, hold, and receive funds in major currencies, facilitating smoother transactions with international suppliers and customers.

Flat Fee with Zero FX Markup: Infinity is fully transparent about the charges involved in transactions, providing a detailed breakdown of fees beforehand to eliminate surprises and ensure cost predictability.

Fast, Same-Day International Money Transfer: Infinity's platform allows for real-time tracking of payments, ensuring that funds are transferred quickly and efficiently, often within the same day.

Treasury Service to Hedge FX Risks: Infinity offers a treasury management solution that allows businesses to earn higher yields on idle cash while mitigating liquidity and asset risk. This service helps protect against FX fluctuations and enhances financial stability.

Instant Remittance Certificate: Infinity handles compliance by providing instant remittance certificates, ensuring that all regulatory requirements are met without burdening the business.

What Is the Vision for Infinity?

Infinity’s long-term vision is to become the financial operating system for businesses, automating daily financial tasks and allowing companies to focus on their core operations. By integrating advanced financial tools and services, Infinity aims to streamline business processes and enhance financial efficiency for cross-border SMBs and startups.

How Does Infinity Benefit Its Customers?

Infinity’s customers benefit from significantly reduced costs, faster payment processing, and improved financial management. By offering transparent pricing and efficient transaction services, Infinity enables businesses to save up to 70% on cross-border payment fees compared to traditional methods. Additionally, the platform’s treasury management services help businesses earn income on idle cash, further enhancing their financial health.

What Sets Infinity Apart from Competitors?

Infinity’s unique value proposition lies in its combination of cost savings, speed, transparency, and comprehensive financial services. Unlike traditional banks and other financial platforms, Infinity offers a flat fee structure with no hidden charges, ensuring complete transparency. The platform’s ability to process same-day international transfers and provide real-time tracking sets it apart from competitors that rely on slower, less efficient systems.

Moreover, Infinity’s treasury management services and instant remittance certificates address common pain points related to FX risks and compliance, offering a holistic solution that is tailored to the needs of cross-border SMBs and startups.

What Experience Do the Founders Bring to Infinity?

Sourav Choraria and Sidharth Choraria bring a wealth of experience and expertise to Infinity, having successfully built and scaled startups in the fintech and technology sectors. Sourav’s background in growth hacking and product development at Paytm Money and his entrepreneurial journey with ClinMD provide a strong foundation for Infinity’s growth strategy. Sidharth’s technical skills and experience in developing payment systems at Amazon and Paytm Travel are crucial for Infinity’s platform development and operational efficiency.

How Does Infinity Enhance Business Operations?

By automating and streamlining financial tasks, Infinity allows businesses to focus on their core activities without being bogged down by the complexities of cross-border transactions. The platform’s multiple currency accounts, flat fee structure, fast transfers, and treasury services collectively enhance business operations by improving cash flow management, reducing costs, and mitigating financial risks.

What Is the Future Outlook for Infinity?

Infinity is poised for significant growth as it continues to innovate and expand its services. The founders’ vision of creating a comprehensive financial operating system for businesses aligns with the increasing demand for efficient and transparent cross-border banking solutions. As more businesses recognize the benefits of Infinity’s platform, the company is likely to see widespread adoption and become a leading player in the global business banking space.

Conclusion: Why Choose Infinity?

Infinity offers a powerful solution for cross-border SMBs and startups, addressing key challenges with innovative and cost-effective services. With its transparent pricing, fast transfer speeds, comprehensive financial tools, and experienced leadership, Infinity is well-positioned to revolutionize business banking for global enterprises. Businesses looking to streamline their financial operations and reduce costs should consider Infinity as their go-to platform for cross-border transactions.