Findi Ltd., through its majority-owned subsidiary Transaction Solutions International (India) Pvt Ltd (TSI), has acquired BANKIT, a fintech company dedicated to enhancing financial inclusion in rural and semi-urban areas across India.

This strategic acquisition reinforces Findi’s commitment to transforming India’s fintech landscape by expanding banking accessibility and promoting financial literacy in underserved regions.

BANKIT: A Decade of Empowering India’s Financial Landscape

Founded in 2010 by Amit Nigam and Satyajit Limaye, BANKIT has played a pivotal role in democratizing financial services. The platform offers a broad spectrum of digital and assisted financial solutions, including money transfers, utility bill payments, mobile and DTH recharges, and travel bookings. BANKIT operates through a vast agent network, with over 129,000 outlets spread across 28 states and more than 12,000 pin codes, making financial services accessible to communities with limited banking infrastructure.

Strengthening Financial Access with Findi

Findi, already a prominent player in the Indian fintech ecosystem through its subsidiary TSI, has been scaling its financial services marketplace for the underbanked. The company operates over 7,500 Brown Label ATMs in collaboration with leading Indian banks and offers payment and financial services through its 50,000+ merchant partners under the brand FindiPay.

Findi recently acquired Tata Communications’ White Label ATM business (Indicash), gaining critical Payment Switch capabilities and expanding its reach to deploy ATMs at merchant touchpoints. The acquisition of BANKIT complements this move, enabling Findi to further enhance its service portfolio and deepen its engagement with rural and semi-urban communities.

Driving Innovation and Accessibility

The collaboration between Findi and BANKIT aims to achieve several transformative goals:

• Expanding Financial Literacy: By promoting awareness of banking and financial tools, the partnership seeks to empower individuals to make informed financial decisions.
• Enhancing Accessibility: Through an integrated network of ATMs, merchant touchpoints, and digital platforms, Findi and BANKIT will ensure easy access to essential financial services such as savings, credit, and insurance.
• Fostering Innovation: The alliance will drive technological advancements tailored to meet the unique needs of rural and semi-urban customers.

Pioneering the Future of Financial Inclusion

The acquisition positions Findi as a key enabler of financial inclusion in India, leveraging BANKIT’s extensive agent network and expertise in assisted financial services. Together, the companies are set to bridge the gap in banking services and create a robust ecosystem for the underbanked, aligning with the government’s vision of a digitally inclusive India.

With the combined strength of BANKIT’s outreach and Findi’s technological and operational capabilities, this partnership marks a significant step toward a more inclusive financial future for rural India.