Findi, through its majority-owned subsidiary Transaction Solutions International(TSI), today has completed the acquisition of BANKIT Services for AU$30 million (₹160 crores).
Following the acquisition, Findi will now cater to over 1.8 lakh merchants in India. BANKIT has a network of over 1.29 lakh merchant partners across 12,000+ pin codes.
A majority-owned subsidiary of the Australian listed entity Findi, TSI has a pan India network of 60,000+ service locations that provide access to cash and payment services.
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.”
Earlier this year, Findi successfully raised A$45 million (₹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.
