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

Entrackr · 8d

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.