Initially announced in January 2025, the acquisition represents a key step in Findi’s long-term strategy to expand its footprint in India’s rapidly evolving digital payments and financial services sector.
The acquisition brings together BANKIT’s nationwide network of merchant partners across more than 12,000 pin codes with Findi’s existing infrastructure, which includes a large ATM and merchant ecosystem. The integration enables Findi to offer a broader suite of banking, digital payment, and financial services to underbanked and underserved communities across India.
The move reinforces Findi’s ability to deliver last-mile financial inclusion through hyperlocal financial hubs, aligning with the broader national agenda of increasing access to formal financial services in remote and semi-urban regions.
This strategic acquisition supports Findi’s ambition of evolving into a fully integrated Payments Bank. By leveraging BANKIT’s domain expertise and combining it with its own technological and operational capabilities, Findi aims to build a unified, tech-enabled financial services marketplace tailored for India’s underbanked population.
The acquisition of BANKIT follows a series of key developments for Findi in 2025, including a successful USD 28.7 million capital raise through an institutional placement and share purchase plan, the completion of its acquisition of Tata Communications Payment Solutions and the Indicash brand, and a mandate from Union Bank of India to deploy ATMs nationwide under a strategic agreement with State Bank of India (SBI).
India has seen a rapid acceleration in digital financial services over the past decade, driven by initiatives such as Jan Dhan Yojana, Aadhaar-enabled payment systems, and the Unified Payments Interface (UPI). However, despite significant progress, large segments of the population remain underbanked or excluded from formal financial services.
Through its subsidiary Transaction Solutions International, Findi has focused on expanding access to cash and digital services through its network of ATMs and merchant-led financial service points. The company’s long-term strategy is centred on evolving into a full-service Payments Bank, capable of offering a complete range of banking and financial services across India.
BANKIT, the acquired company, is an Indian fintech known for enabling assisted digital financial services such as money transfers, bill payments, insurance, and banking services through its extensive agent network. BANKIT’s tech-driven platform has helped small merchants, kirana stores, and local entrepreneurs to serve as financial service access points for their communities.
The acquisition aligns with growing trends in India’s fintech sector, where strategic partnerships and consolidations are becoming increasingly common as companies aim to build scalable, integrated platforms that can reach underserved populations. With regulatory support and rising digital adoption, the sector is expected to continue its growth trajectory, offering significant opportunities for players like Findi.
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