Constructing a global leader with tailored capital
How Infra.Market secured $150M to redefine India’s infrastructure sector.
“Liquidity has a flexible, founder-aligned approach to capital which is especially valuable in a sector as operationally complex as ours. Our favourable rating from Liquidity’s decision-science technology served as a strong validation of our business model and performance.”
OVERVIEW
Infra.Market, India’s fastest-growing building materials platform, is on a mission to organise a fragmented $255 billion market. To support its rapid ascent and global aspirations, the company needed a financial lender that offered rapid, flexible capital deployment at scale.
Building on a successful existing partnership, Infra.Market secured a commitment of up to $150 million from Mars Growth Capital, the joint venture between Liquidity and MUFG Bank, Ltd. This extended and expanded facility of 5 years allowed Infra.Market to pursue aggressive global expansion while preserving founder equity.
THE CHALLENGE: SCALING IN A $255B MARKET
Infra.Market manages complex supply chains across 15+ product categories; from steel and concrete to paints and electricals. To drive growth in India’s $255 billion construction materials market, the company faced a dual challenge:
- Capital intensity: Meeting the explosive demand for materials across urban, industrial and rural projects requires significant working capital.
- Strategic agility: To transition from a domestic leader to a global player, Infra.Market needed long-term stability without the dilution associated with constant equity fundraising.
The Goal: Secure a long-term capital structure to fuel global expansion and operational efficiency.
THE SOLUTION: A DATA-BACKED, LONG-TERM CAPITAL COMMITMENT
Recognising Infra.Market’s dominant performance, Mars Growth Capital leveraged Liquidity’s decision-science technology to validate the business model and structure a massive credit facility.
The deal structure:
- Total potential commitment: Up to $150 million.
- Extension: A five-year extension of the existing $100 million facility.
- Growth option: An additional $50 million scale-up option at the lender’s discretion.
- Provider: Mars Growth Capital (Liquidity and MUFG Bank, Ltd.).
THE IMPACT: BUILDING GLOBAL GROWTH
The financing provided Infra.Market with a stable, long-term runway to execute its vision of becoming a best-in-class construction materials company, expanding its presence beyond India.
“Liquidity has a flexible, founder-aligned approach to capital which is especially valuable in a sector as operationally complex as ours. Our favourable rating from Liquidity’s decision-science technology served as a strong validation of our business model and performance.”
— Souvik Sengupta, Co-Founder, Infra.Market
Key outcomes:
- Equity preservation: Infra.Market’s founders can fund massive growth initiatives without diluting ownership, a crucial advantage for high-growth unicorns.
- Operational scale: The capital supports the network of 250+ manufacturing units and 10,000+ retail touchpoints, ensuring reliability across the supply chain.
- Validation: The deal serves as a stamp of approval from a top-tier global lender, reinforcing trust with stakeholders.
CAPITAL THAT THINKS AHEAD
This transaction highlights why industry leaders choose Mars Growth Capital.
Data-driven validation
Liquidity’s decision-science technology assesses risk and validates opportunity. The favorable rating generated by Liquidity’s AI gave Mars Growth Capital the conviction to commit to a 5-year extension.
The freedom of flexibility
By offering a "scale-up option," Mars Growth Capital ensures that Infra.Market has access to additional dry powder ($50M) exactly when they need it, providing agility to surge through the changes in the market.
Global financial firepower
Backed by MUFG Bank Ltd.’s global balance sheet and Liquidity’s ML-driven underwriting, private growth and mid-market companies gain access to deal sizes and stability ($150M) typically reserved for public companies.
SCALE GLOBALLY WITH LIQUIDITY
Liquidity invests in visionary growth and mid-market companies around the world, deploying from $10 million to $200 million in flexible, tailored capital designed to scale in step with vision and ambition. Is your business ready to lead the market?
Scale globally with liquidity
Liquidity invests in visionary growth and mid-market companies around the world, deploying from $10 million to $200 million in flexible, tailored capital designed to accelerate growth.
We partner with founders to unlock ambition. Get in touch to find out more.
250+ Manufacturing Units, 10,000+ Retail Touchpoints
B2B building and construction materials marketplace
