Australia-based FINDI acquires fintech firm BANKIT

Australia-based FINDI has acquired fintech firm BANKIT in a 30 million Australian dollars (roughly Rs 162 crore) deal, a release said. Noida-based BANKIT has been acquired by FINDI through its subsidiary Transaction Solutions International (India).

The acquisition underlines FINDI's commitment to the Indian fintech sector, particularly in enhancing financial access in rural and semi-urban areas.

FINDI, listed on the Australian stock exchange, builds a financial services marketplace for the underbanked through their merchant network in India.

With a network of over 1.29 lakh outlets and services available in 28 states, covering more than 12,000 pin codes, BANKIT has been a prominent player in providing banking solutions to underserved communities.

"This acquisition by FINDI dovetails with its recently announced acquisition of Tata Communications' White Label ATM business (Indicash), which will allow the deployment of ATMs at merchant touchpoints, as well as expand the suite of services offered to underserved communities," the release added.

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