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Findi completes Rs 160 Cr acquisition of BANKIT to expand in India

EntrackrEntrackr · 3m ago
Findi completes Rs 160 Cr acquisition of BANKIT to expand in India
Medial

Findi Ltd, through its subsidiary Transaction Solutions International (India) Pvt Ltd (TSI), has completed the acquisition of BANKIT Services Pvt. Ltd for Rs 160 crore ($18.7 million). The deal aims to expand Findi’s reach in India’s financial services sector. Following the acquisition, Findi now supports over 1.8 lakh merchants across India. BANKIT brings a network of 1.29 lakh merchant partners, covering more than 12,000 pin codes. This addition strengthens Findi’s ability to offer banking and payment services to underbanked areas. Findi plans to use this network to build a platform that combines ATMs, merchant-led services, and digital offerings. The goal is to grow into a full Payments Bank and provide basic financial services to underserved communities. Earlier in 2025, Findi raised Rs 243 crore ($28.4 million) through institutional funding. It also acquired Tata Communications Payment Solutions Limited and signed an agreement with the State Bank of India to expand its ATM presence. In addition, Findi received a Rs 500 crore ($58.1 million) contract from the Union Bank of India to deploy ATMs. Findi and BANKIT will now focus on delivering integrated financial services through local merchants.

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Findi acquires BANKIT to boost financial inclusion in rural India

EntrackrEntrackr · 5m ago
Findi acquires BANKIT to boost financial inclusion in rural India
Medial

Findi acquires BANKIT to boost financial inclusion in rural India. This acquisition underscores Findi’s commitment to India’s fintech sector, particularly in enhancing financial access in rural and semi-urban areas. BANKIT, a fintech company focused on financial inclusion, has been acquired by Findi Ltd. through its majority-owned subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI). Co-founded in 2010 by Amit Nigam and Satyajit Limaye, BANKIT aims to empower the Indian financial landscape by offering a wide range of digital and assisted financial services. It enables users to transfer money to bank accounts, pay utility bills, including telecom, electricity, gas, and water, recharge mobile and DTH, make hotel and travel bookings, and more via agent networks. With a network of over 129,000 outlets and services available in 28 states, covering more than 12,000 pin codes, BANKIT has been a key player in providing banking solutions to underserved communities. This acquisition by Findi aligns with its recent acquisition of Tata Communications' White Label ATM business (Indicash), which will facilitate the deployment of ATMs at merchant touchpoints and expand the suite of services offered to underserved communities. Through this collaboration, Findi and BANKIT aim to expand financial literacy, increase banking accessibility, and drive innovation tailored to the needs of rural India. The acquisition is expected to enhance the development of digital banking services, focusing on financial literacy and accessibility for people in rural areas. Together, BANKIT and Findi plan to make banking services more user-friendly and accessible, helping people with savings, credit, insurance, and other essential financial services. Findi is building a Financial Services Marketplace for the underbanked through its merchant network in India. Currently, Findi, via TSI, operates over 7,500 Brown Label ATMs in partnership with major Indian banks and provides financial and payment services through more than 50,000 merchant partners via its brand FindiPay. The company has also recently acquired Indicash, Tata Communications' White Label ATM business, providing it with Payment Switch capabilities and the ability to deploy its own ATMs at merchant partners.

Unicommerce completes 100% acquisition of Shipway

EntrackrEntrackr · 3m ago
Unicommerce completes 100% acquisition of Shipway
Medial

Unicommerce completes 100% acquisition of Shipway E-commerce SaaS company Unicommerce has approved the 100% acquisition of Shipway. The Ace Vector owned company had acquired over 42% stake in the shipping solution firm late last year. According to a preferential issue filing, Unicommerce eSolutions will issue 60,33,189 equity shares to acquire 7,610 equity shares of Shipway from its shareholders Vikas Garg, Gaurav Gupta, and Puneet Gupta through a share swap approved by SEBI. Earlier in November last year, Unicommerce acquired a 42.7% stake in Shipway for Rs 68.4 crore to expand its product suite. Shipway will become its wholly owned subsidiary after the proposed acquisition. Founded in 2015 by Gaurav Gupta and Vikas Garg, Shipway provides post-purchase automation solutions for D2C brands. In 2021, IndiaMART InterMESH acquired a 26% stake in the company for Rs 18.2 crore. Unicommerce collaborates with India’s leading brands, marketplaces, and logistics providers to enable end-to-end management of e-commerce operations. Beyond India, it also has a presence in the Middle East and SEA. Unicommerce, which went public in August last year, reported revenue of Rs 29.3 crore in Q2 FY25, with a profit after tax of Rs 4.4 crore.

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