New Delhi, Jan. 12 -- Transaction Solutions International (India) Pvt Ltd, the local arm of Australian company Findi Ltd, is raising Rs 418 crore (A$72 million or US$46.3 million) from Nova Global Opportunities Fund PCC.
TSI, which is backed by Piramal Alternatives, will receive the money in phases, with the first tranche of Rs 150 crore likely to be infused on or before February 15 following completion of long-form documentation. The remaining capital will be deployed in subsequent tranches.
TSI will utilise the funds for ATM network deployment, support working capital requirements, and scale integrated cash and digital payments ecosystem across rural, semi-urban, and high-growth regions in India.
"The funds will be prioritised for expanding our white-label Findi ATM network and scaling our digital and assisted payment platform FindiBANKIT," said Deepak Verma, managing director and chief executive officer, FINDI Group.
Findi said that, alongside the investment, it has completed a structured board renewal process, with the appointment of Stephen Benton and Tineyi Matanda as non-executive directors. The company said these appointments bring additional expertise in banking, payments, investments, and corporate governance. These appointments support Findi's strategic transition toward becoming a payments-led financial services platform and a listed Indian entity.
TSI had started 2025 with two acquisitions Tata Communications Payment Solutions and BankIT Services. VCCircle previously reported that the company was planning to float an initial public offering comprising a fresh issue of shares and an offer for sale. The total size of the issue could be around Rs 1,200-1,500 crore.
Published by HT Digital Content Services with permission from VC Circle.