Findi Acquires BANKIT for INR 160 Cr to Strengthen Financial Services Network The move bolsters Findi's ambition to offer essential banking and payment services in underbanked and rural areas.
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Findi Ltd, through its subsidiary Transaction Solutions International (India) Pvt Ltd (TSI), has acquired BANKIT Services Pvt Ltd for INR 160 crore (USD 18.7 million), marking a major step in expanding its footprint in India's financial services sector.
With this acquisition, Findi now supports over 1.8 lakh merchants across India. BANKIT adds 1.29 lakh merchant partners, significantly strengthening Findi's reach across more than 12,000 pin codes. The move bolsters Findi's ambition to offer essential banking and payment services in underbanked and rural areas.
Findi plans to leverage this expanded network to develop a hybrid platform that integrates ATMs, merchant-led services, and digital banking. Its long-term goal is to evolve into a full-fledged Payments Bank, delivering inclusive financial services to underserved communities.
Earlier this year, Findi raised INR 243 crore (USD 28.4 million) through institutional funding, acquired Tata Communications Payment Solutions Ltd, and partnered with the State Bank of India to enhance its ATM footprint. Additionally, it secured an INR 500 crore (USD 58.1 million) contract from Union Bank of India to deploy ATMs nationwide.
The combined force of Findi and BANKIT will now focus on building a robust, merchant-led financial ecosystem that empowers local communities with accessible banking solutions.
