Fintech Findi Raises Rs243 Cr From Australia


The proceeds will be utilized to enhance TSI’s technological capabilities, scale merchant payment solutions, and accelerate the deployment of ATM and payment processing infrastructure across key Indian markets


Deepak Verma, MD and CEO of Findi

FinTech BizNews Service

Mumbai, March 26, 2025: Findi Ltd (ASX: FND), has successfully raised A$45 million (INR 243 Crore) through an institutional placement and share purchase plan (SPP) for the use of its majority-owned subsidiary in India, Transaction Solutions International (India) Pvt Ltd, TSI. This marks one of the largest fintech fundings secured in India over the past six months, reinforcing Findi’s leadership in the country’s rapidly expanding digital payments ecosystem.

The fundraise witnessed strong participation from institutional investors, demonstrating confidence in Findi’s strategic vision and growth potential. The proceeds will be utilized to enhance TSI’s technological capabilities, scale merchant payment solutions, and accelerate the deployment of ATM and payment processing infrastructure across key Indian markets.

TSI, operating under Findi’s majority ownership, plays a pivotal role in India’s digital financial landscape by providing end-to-end payment and transaction processing solutions. These include ATM deployment, digital banking infrastructure, and merchant acquiring services. With this fresh capital, TSI plans to significantly expand its operations and strengthen collaborations with banks and financial institutions, furthering its commitment to financial inclusion.

Commenting on the development, Deepak Verma, MD and CEO of Findi said, “This fundraise is a significant milestone for Findi as we continue to drive forward our expansion in India’s dynamic fintech space. 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 (Morgans), MST Financial Services Pty Ltd (MST), and Ord Minnett Limited (Ord Minnett) acted as Joint Lead Managers to the capital raising. As a result of this, around a dozen new funds are now added to the company’s register.

This fundraise is the latest milestone in Findi’s journey this year. Earlier this month, Findi completed the acquisition of Tata Communications Payment Solutions Limited (TCPSL) along with its Indicash brand, giving it immediate access to a White Label ATM network, Payment Switch and White Label ATM license, which will allow Findi to deploy White Label ATMs to its existing merchant network, and offer payment solutions to existing Indicash White Label ATM franchisees.

Findi is also in the process of completing its acquisition of BankIT and its 120,000+ strong merchant network. In addition, Findi increased its presence in the Brown Label ATM space with a new contract worth INR 500 Cr with UBI, as well as an expansion of its existing agreement with SBI, taking its total brown label ATM network to almost 12,000.

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