‍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.

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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:

1. Capital intensity: Meeting the explosive demand for materials across urban, industrial and rural projects requires significant working capital.

2. 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.

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The Goal: Secure a long-term capital structure to fuel global expansion and operational efficiency.

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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.).

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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

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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.

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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.

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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?

Visit liquidity.com to speak to our experts.

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