Findi Ltd. has successfully acquired BANKIT Services Pvt. Ltd. for Rs 160 crore ($18.7 million) through its subsidiary, Transaction Solutions International (India) Pvt. Ltd. (TSI). This strategic acquisition is set to bolster Findi’s position in India’s fast-growing financial services sector, enabling the company to reach underserved markets and expand its footprint across the country.
The acquisition brings a significant addition to Findi’s existing network, as BANKIT Services contributes an impressive network of 1.29 lakh merchant partners spanning over 12,000 pin codes. With this move, Findi now serves a network of more than 1.8 lakh merchants across India, positioning the company to enhance its ability to deliver essential banking and payment services, particularly to the underbanked areas of the nation.
Findi plans to integrate this newly acquired network into its broader strategy of offering a combination of ATMs, merchant-led services, and digital payment solutions. The company’s long-term vision is to evolve into a comprehensive Payments Bank, bringing basic financial services to communities that have historically lacked access to traditional banking channels.
This acquisition follows a series of important developments for Findi in 2025. Earlier this year, the company raised Rs 243 crore ($28.4 million) through institutional funding, which will support its ongoing expansion efforts. Additionally, Findi acquired Tata Communications Payment Solutions Limited and forged a partnership with the State Bank of India to expand its ATM presence across the nation. Moreover, Findi secured a Rs 500 crore ($58.1 million) contract with Union Bank of India to deploy ATMs, further cementing its footprint in the Indian financial landscape.
With the integration of BANKIT Services, Findi and its newly expanded merchant network are poised to deliver a range of integrated financial services, supporting the financial inclusion goals of the Indian government while empowering local merchants as key providers of banking solutions to underserved populations.
