Findi Secures INR 243 Cr to Expand TSI's Fintech Operations in India The funds will be utilised to enhance TSI's technological infrastructure, scale merchant payment solutions, and expand its ATM and payment processing footprint across key Indian markets.
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Findi, a leading fintech company, has successfully raised INR 243 crore through an institutional placement and share purchase plan (SPP) to bolster the operations of its majority-owned Indian subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI).
The capital infusion saw strong participation from institutional investors, underscoring confidence in Findi's strategic vision and growth trajectory in India's rapidly evolving fintech sector.
The funds will be utilised to enhance TSI's technological infrastructure, scale merchant payment solutions, and expand its ATM and payment processing footprint across key Indian markets.
Findi's Managing Director and CEO, Deepak Verma, said, "This fundraise enables us to accelerate our White Label ATM strategy, expand our franchisee network, and strengthen our partnerships with financial institutions. Our goal is to empower millions of underserved and underbanked Indians by enhancing financial accessibility."
A subsidiary of the Australian-listed Findi, TSI has been a pivotal player in India's digital finance ecosystem, offering end-to-end payment processing, ATM deployment, and merchant acquiring services.
TSI operates across 60,000+ service locations in India, facilitating financial access for underbanked communities in partnership with 13 major Indian banks. With this fresh capital, the company aims to deepen its collaborations with banks and financial institutions, furthering its mission of financial inclusion.
The capital raise was led by Morgans Corporate Limited, MST Financial Services Pty Ltd, and Ord Minnett Limited as Joint Lead Managers. As a result, nearly a dozen new funds have been added to Findi's investor registry.
This funding follows a series of strategic moves by Findi in 2024. Earlier this month, Findi acquired Tata Communications Payment Solutions Limited (TCPSL) and its well-known Indicash brand, securing access to a White Label ATM network, a Payment Switch, and a White Label ATM license. This acquisition enables Findi to integrate White Label ATMs into its merchant network and expand payment solutions for Indicash franchisees.
Additionally, Findi is finalising the acquisition of BankIT, which boasts a 120,000+ strong merchant network. The company has also expanded its Brown Label ATM presence, securing a INR 500 crore contract with UBI and extending its agreement with SBI, bringing its Brown Label ATM network to nearly 12,000 units.
