XML 219 R36.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2024 | Dec. 31, 2023
SCHEDULE OF RECONCILIATION OF ORDINARY SHARE SUBJECT TO POSSIBLE REDEMPTION | The amounts of Class A ordinary shares reflected on the balance sheets 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, 2023 |  | $ | 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 |
Accretion of carrying value to initial redemption value |  |  | 1,269,100 |
Redemption of Class A ordinary shares |  | $ | (30,285,815 | )
Class A ordinary shares subject to possible redemption at March 31, 2024 |  | $ | 54,506,397 |
| 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 income 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 three months ended March 31 |
|  | 2024 |  |  | 2023 |
|  | Class A |  |  | Class B |  |  | Class A |  |  | Class B |
Basic and diluted net income per ordinary share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allocation of net income |  | $ | 301,466 |  |  | $ | 288,637 |  |  | $ | 712,719 |  |  | $ | 285,519 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted weighted average common shares |  |  | 6,092,346 |  |  |  | 5,833,083 |  |  |  | 14,560,700 |  |  |  | 5,833,083 |
Basic and diluted net income per ordinary share |  | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.05 |
| 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)

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: |