XML 216 R37.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
SCHEDULE OF RECONCILIATION OF ORDINARY SHARE SUBJECT TO POSSIBLE REDEMPTION | The amount of Class A ordinary shares reflected on the balance sheet are reconciled in the following table: SCHEDULE OF RECONCILIATION OF ORDINARY SHARE SUBJECT TO POSSIBLE REDEMPTION
Class A ordinary shares subject to possible redemption at January 1, 2022 |  | $ | 202,998,782 |
Accretion of carrying value to initial redemption value |  |  | 5,934,098 |
Class A ordinary shares subject to possible redemption at December 31, 2022 |  | $ | 208,932,880 |
Accretion of carrying value to initial redemption value |  |  | 7,715,207 |
Redemption of Class A Ordinary Shares |  |  | (133,124,975 | )
Class A ordinary shares subject to possible redemption at December 31, 2023 |  | $ | 83,523,112 |
SCHEDULE OF BASIS AND DILUTED NET LOSS PER ORDINARY SHARES | The following table reflects the calculation of basic and diluted net loss per ordinary share (in dollars, except per share amounts): SCHEDULE OF BASIS AND DILUTED NET LOSS PER ORDINARY SHARES
|  | Class A |  |  | Class B |  |  | Class A |  |  | Class B |
|  | For the year ended December 31, 2023 |  |  | For the year ended December 31, 2022 |
|  | Class A |  |  | Class B |  |  | Class A |  |  | Class B |
Basic and diluted net income (loss) per ordinary share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allocation of net income (loss) |  | $ | 2,003,234 |  |  | $ | 1,165,646 |  |  | $ | (860,883 | ) |  | $ | (251,081 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted weighted average common shares |  |  | 10,024,516 |  |  |  | 5,833,083 |  |  |  | 19,999,880 |  |  |  | 5,833,083 |
Basic and diluted net income (loss) per ordinary share |  | $ | 0.20 |  |  | $ | 0.20 |  |  | $ | (0.04 | ) |  | $ | (0.04 | )
Seamless Group Inc [Member] |
SCHEDULE OF DEPRECIATION OF EQUIPMENT AND SOFTWARE STRAIGHT LINE METHOD | Depreciation of equipment is calculated using the straight-line method with no residual values over their estimated useful lives, as follows: SCHEDULE OF DEPRECIATION OF EQUIPMENT AND SOFTWARE STRAIGHT LINE METHOD
Office equipment | 10%
Furniture and fittings | 10%
Renovation | 10%
Signboard | 10%
Computer peripherals | 33%
Electrical installation | 10%
Mobile phone | 33%
Motor vehicle | 20%
Air conditioners | 10%
Store equipment | 20%
SCHEDULE OF FAIR ASSUMPTIONS OF AWARDS GRANTED | The Company estimates the fair value of awards using a binomial pricing model. The Company accounts forfeitures as they occur. For the awards granted on July 29, 2022, the following assumptions were used in the model: SCHEDULE OF FAIR ASSUMPTIONS OF AWARDS GRANTED Expected Volatility (39.84% to 43.74%) Expected Dividend Yield (0%) Expected Time to Liquidity (0.92 years to 2.92 years) Exercise Price ($Nil) Stock price at grant date ($6.55) Weighted Average Fair Value of 1 Share ($5.73) The fair value of the awards granted on July 29, 2022 is $32,790,450, after accounting for the forfeiture of 77,261 shares as of December 31, 2023. This also represents the unrecognized compensation, as the performance condition of the completion of an IPO or de-SPAC is not within the Company’s control.

X
- Definition Property plant and Equipment other text block + References No definition available. + Details
Name: | IFIN_PropertyPlantAndEquipmentOtherTextBlock
Namespace Prefix: | IFIN_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of reconciliation of ordinary shares subject to possible redemption [Table Text Block] + References No definition available. + Details
Name: | IFIN_ScheduleOfReconciliationOfOrdinarySharesSubjectToPossibleRedemptionTableTextBlock
Namespace Prefix: | IFIN_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=IFIN_SeamlessGroupIncMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |