Findi’s TSI secures $46m to expand India’s ATM network

Findi Limited’s Indian subsidiary, Transaction Solutions International (India) Private Limited (TSI), has secured a proposed strategic investment of up to $46 million from Nova Global Opportunities Fund PCC, strengthening its capital base as it looks to scale ATM and digital payments infrastructure across India.

The investment, announced on 12 January 2026, is subject to legal due diligence and the execution of definitive agreements. It will be deployed in multiple tranches, with an initial infusion of INR 150 crore expected by mid-February 2026. The remaining capital will be invested in subsequent tranches, subject to mutually agreed terms.

TSI plans to use the proceeds to fund capital expenditure for ATM network expansion, support working capital needs, and scale its integrated cash and digital payments ecosystem. The focus will be on expanding Brown Label and White Label ATMs, alongside assisted and digital payment services, particularly in rural, semi-urban, and underbanked regions.

The funding comes at a time when India’s payments infrastructure providers are under pressure to balance financial inclusion goals with the capital intensity of last-mile deployment. By strengthening its long-term funding position, TSI aims to accelerate network growth while maintaining service continuity and regulatory compliance in a competitive and evolving market.

Deepak Verma, Managing Director and CEO of the FINDI Group, said, “The investment would support expansion across the group’s core platforms, including FindiATM and the assisted digital payments platform FindiBANKIT. With a growing national ATM footprint and a large merchant-led digital network, this investment enables us to deepen last-mile access and deliver practical financial solutions aligned with India’s digital adoption agenda.”

Alongside the investment, Findi has completed a board renewal process, appointing Stephen Benton and Tineyi Matanda as Non-Executive Directors. The appointments are intended to strengthen governance and add experience in banking, payments, investments, and corporate oversight, as the group advances its transition toward a payments-led financial services model and a potential listed presence in India.

The backing from Nova Global signals continued investor interest in India’s physical and digital payments infrastructure, particularly platforms addressing underserved markets. For Findi and TSI, the capital infusion provides both financial capacity and governance support to pursue expansion in a sector where scale, reliability, and long-term funding remain critical to sustainable growth.