Findi takes over BANKIT in strategic AU$30m deal

By Gloria Methri

Findi Ltd, through its subsidiary Transaction Solutions International (India), has completed the acquisition of BANKIT Services Pvt Ltd for AU$30 million (INR 1.6 billion). First announced in January 2025, the acquisition is a key part of Findi’s long-term strategy to expand its footprint in India’s fast-growing digital financial services sector.

The deal brings together BANKIT’s vast merchant network and deep domain expertise with Findi’s existing ATM infrastructure and digital capabilities, positioning the company to deliver a seamless, integrated financial services experience to underbanked and underserved populations across India.

Following the transaction, Findi has significantly scaled its operations and capabilities, strengthening its foundation to evolve into a fully integrated Payments Bank. The company will now serve over 1.8 lakh merchants across the country, enhancing its reach and enabling greater last-mile access to formal financial services.

BANKIT contributes a network of 1.29 lakh merchant partners across more than 12,000 pin codes, complementing Findi’s existing digital and ATM ecosystem. This expanded infrastructure enables the delivery of a wide range of banking, payments, and financial services—including cash withdrawals, domestic remittance, bill payments, and digital banking—to previously underserved regions.

The acquisition reinforces Findi’s vision to build a one-stop Financial Services Marketplace, transforming its merchant partners into hyperlocal financial hubs. By combining digital reach with on-ground presence, the company aims to accelerate financial inclusion at scale, unlocking growth opportunities in India’s rural and semi-urban markets.

Findi’s strategic consolidation of BANKIT also aligns with broader financial inclusion goals. It leverages its combined strength to offer enhanced financial access, convenience, and empowerment to communities across India.

Deepak Verma, Managing Director and CEO, Findi, said, “With the successful completion of the BANKIT acquisition, we are now better positioned than ever to serve millions of Indians through an integrated network of ATMs and merchant-led financial services. This milestone is a critical enabler in our journey to become a full-fledged Payments Bank and a leading player in India’s FinTech landscape.”

Amit Nigam, Executive Director and CEO, BANKIT, said, “This isn’t just an acquisition—it’s a tectonic shift. With Findi, we are not just collaborating; we are redrawing the financial map of India. Every corner shop, every merchant in our network is now a potential banking hub, a financial lifeline in the vicinity. Together, we are turning 14,000+ pin codes into launchpads for financial empowerment for the underserved population. This merger isn’t about scale alone—it’s about building a new architecture of trust, tech, and touchpoints. We are not chasing the future—we’re setting its coordinates. And for every underbanked Indian, that future just got a lot closer.”