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New Delhi, 14th April 2025 – Findi Ltd (ASX: FND), through its majority-owned subsidiary Transaction Solutions International (India) Pvt Ltd (TSI), today announced the successful completion of its acquisition of BANKIT Services Pvt. Ltd (BANKIT) for AU$30 million (INR 1.6 billion). The acquisition, first announced in January 2025, is a critical part of Findi’s strategic roadmap to scale its presence in India’s fast-evolving digital financial services landscape. By combining BANKIT’s extensive merchant network and domain expertise with Findi’s existing ATM infrastructure and digital offerings, the company is now uniquely positioned to deliver an integrated financial services experience to India’s underbanked population.
This acquisition marks a significant milestone in Findi’s long-term growth strategy. With the transaction now complete, Findi has substantially expanded its scale and service capabilities, establishing a robust foundation to support its transformation into a fully integrated Payments Bank. Following the acquisition, Findi will now cater to over 1.8 lakh merchants nationwide, significantly enhancing its national footprint and ability to drive last-mile financial inclusion.
BANKIT’s extensive network of over 1.29 lakh merchant partners across 12,000+ pin codes, combined with Findi’s existing ATM and merchant ecosystem, positions the company to deliver a comprehensive suite of banking, payment, and financial services to India’s underbanked and underserved communities. The integration of BANKIT’s operations strengthens Findi’s vision of becoming a one-stop Financial Services Marketplace, enabling merchant partners to function as hyperlocal financial hubs, and accelerating the company’s mission to drive financial inclusion at scale across India.
Deepak Verma, Managing Director and CEO, Findi, said: “With the successful completion of the BANKIT acquisition, we are now better positioned than ever to serve millions of Indians through an integrated network of ATMs and merchant-led financial services. This milestone is a critical enabler in our journey to become a full-fledged Payments Bank and a leading player in India’s fintech landscape.”
Amit Nigam, Executive Director and CEO, BANKIT, said: “This isn’t just an acquisition—it’s a tectonic shift. With Findi, we’re not just collaborating; we’re redrawing the financial map of India. Every corner shop, every merchant in our network is now a potential banking hub, a financial lifeline in the vicinity. Together, we’re turning 14,000+ pin codes into launchpads for financial empowerment for the underserved population. This merger isn’t about scale alone—it’s about building a new architecture of trust, tech, and touchpoints. We’re not chasing the future—we’re setting its coordinates. And for every underbanked Indian, that future just got a lot closer”.
With this acquisition now complete, Findi is poised to accelerate its vision of building a unified, tech-driven financial ecosystem that reaches deep into India’s underserved regions. By integrating BANKIT’s capabilities with its own growing suite of services, Findi aims to unlock new growth opportunities, empower its merchant network, and play a pivotal role in reshaping access to formal financial services across the country.
Earlier this year, Findi successfully raised A$45 million (INR 243 crore) through an institutional placement and share purchase plan (SPP), completed the acquisition of Tata Communications Payment Solutions Limited (TCPSL) along with its Indicash brand, expanded its ATM network across India under a strategic agreement with State Bank of India (SBI), and secured a ₹500 crore mandate from Union Bank of India to deploy ATMs nationwide.
