New Delhi, March 26, 2025 – Findi Ltd (ASX: FND), an Australian-listed fintech company, has raised A$45 million (INR 243 Crore) to bolster its majority-owned Indian subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI). This significant capital infusion, one of the largest fintech fundings in India in the past six months, underscores Findi’s growing influence in the country’s rapidly evolving digital payments sector.
The funding was secured through an institutional placement and share purchase plan (SPP), attracting strong participation from institutional investors. The proceeds will be strategically deployed to enhance TSI’s technological infrastructure, expand its merchant payment solutions, and accelerate the deployment of ATM and payment processing infrastructure across key Indian markets.
TSI plays a crucial role in India’s digital financial landscape, providing comprehensive payment and transaction processing solutions, including ATM deployment, digital banking infrastructure, and merchant acquiring services. The fresh capital will enable TSI to significantly scale its operations, strengthen partnerships with banks and financial institutions, and further its commitment to financial inclusion.
“This fundraise is a significant milestone for Findi as we continue to drive forward our expansion in India’s dynamic fintech space,” stated Deepak Verma, MD and CEO of Findi. “The overwhelming investor confidence highlights our commitment to revolutionizing financial services and advancing financial inclusion. With this capital, we will accelerate our White Label ATM strategy, which includes expansion and monetization of our franchisee network, and fortify our partnerships with financial institutions to enhance our product offerings, thereby empowering and enabling financial inclusion for millions of underserved and underbanked Indians.”
Morgans Corporate Limited, MST Financial Services Pty Ltd, and Ord Minnett Limited served as Joint Lead Managers for the capital raising, bringing approximately a dozen new funds onto Findi’s registry.
This funding round follows Findi’s recent acquisition of Tata Communications Payment Solutions Limited (TCPSL) and its Indicash brand, providing immediate access to a White Label ATM network, Payment Switch, and White Label ATM license. This acquisition will enable Findi to deploy White Label ATMs to its existing merchant network and offer payment solutions to Indicash franchisees.
Furthermore, Findi is in the process of finalizing its acquisition of BankIT, which boasts a network of over 120,000 merchants. The company has also expanded its presence in the Brown Label ATM sector, securing a new INR 500 Crore contract with UBI and expanding its existing agreement with SBI, bringing its total Brown Label ATM network to nearly 12,000. These strategic moves position Findi as a significant player in India’s burgeoning digital payments ecosystem.
