Findi (ASX:FND) Completes AU$30Mn Acquisition of BankIT in Strategic Expansion

April 07, 2025 11:08 AM AEST | By Sonal Goyal

Findi (ASX:FND) Completes AU$30Mn Acquisition of BankIT in Strategic Expansion — Image source: Company PPT

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Highlights

Findi has completed the AU$30 million acquisition of BankIT through its majority owned Indian subsidiary.

The transaction adds approximately 130,000 merchants and expands the company’s reach to ~200,000 merchants across India.

BankIT adds a Gross Transaction Value of AU$3 billion and annual revenue of AU$33.6 million to Findi’s portfolio.

The acquisition supports the company’s White Label ATM growth strategy and its goal of transforming into a fully-fledged Payments Bank.

Findi Limited (ASX:FND) has completed the acquisition of BankIT Services Pvt. Ltd (BankIT) through its Indian subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI). This acquisition represents a major milestone in Findi’s growth strategy, as it immediately boosts the company’s scale and provides the infrastructure needed to advance its transformation into a fully integrated Payments Bank.

The AU$30 million acquisition includes a Gross Transaction Value of approximately AU$3 billion, annual revenue of AU$33.6 million, EBITDA of AU$1.9 million (reflecting a 5.6% margin), and NPAT of AU$1.4 million. Notably, the deal adds around 130,000 merchants across India and expands FindiPay’s reach to approximately 200,000 merchants nationwide.

This strategic acquisition supports Findi’s White Label ATM (WLA) strategy while unlocking cross-selling opportunities for insurance and other financial services within the company’s suite of innovative offerings.

FND shares were trading at AU$3.94 per share at the time of writing on 7 April 2025.

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