Findi's strategic acquisition and expansion in India

Findi (ASX:FND), a fintech company, is expanding its presence in India through the acquisition of Tata Communications Payment Solutions Ltd (TCPSL). This move, valued at A$75.7 million, will significantly boost Findi's White Label ATM offerings and strengthen its footprint in the Indian market.

Findi's strategic goals and financial outlook

Findi has strategically acquired TCPSL to gain access to a vast White Label ATM network, strengthening its operations in India. With over 4,600 operating ATMs and an additional 3,000 in storage, Findi aims to increase its market penetration. Financially, the company reported growth in FY24 with revenues of A$66.5 million and an EBITDA of A$27.4 million. Looking ahead, Findi projects FY25 revenue to be between A$80-90 million, with plans to expand its merchant network significantly. The company is focused on capturing the underbanked population in India, aligning with the National Mission for Financial Inclusion. An IPO for its Indian subsidiary is planned by the end of 2026, as Findi aims for sustainable growth and enhanced market position.

Executive insights on Findi's strategic move

The acquisition of TCPSL represents a significant milestone for Findi as we enhance our ATM network and digital payment solutions in India. This strategic expansion aligns with our goal to penetrate both urban and rural markets, providing scalable and flexible payment services to the underbanked population.