Findi's Indian Arm TSI Secures INR 418 Cr Funding from Nova Global Opportunities Fund Stephen Benton and Tineyi Matanda have been appointed as Non-Executive Directors.
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Findi Limited's Indian subsidiary, Transaction Solutions International (India) Private Limited (TSI), has entered into a binding term sheet with Nova Global Opportunities Fund PCC for a strategic investment of up to INR 418 crore.
The proposed investment is subject to completion of legal due diligence and execution of definitive agreements, the company said in a statement.
The investment will be made in multiple tranches. The first tranche of INR 150 crore is expected to be infused on or before February 15, 2026, following the completion of long-form documentation. The remaining capital will be deployed in subsequent tranches based on mutually agreed timelines between TSI and Nova Global Opportunities Fund.
The funds will be primarily used to support capital expenditure related to ATM network deployment, meet working capital requirements, and expand TSI's integrated cash and digital payments ecosystem. The focus areas include rural, semi-urban, and other high-growth regions across India.
The proposed investment is expected to strengthen TSI's long-term funding position and support its expansion plans across Brown Label ATMs, White Label ATMs, and digital payments infrastructure. The company operates in underserved and underbanked markets, where demand for cash access and assisted digital payment services continues to grow.
Deepak Verma, Managing Director and CEO of the FINDI Group, said, "Funds will be prioritised for expanding our White Label FindiATM network and scaling our digital and assisted payment platform FindiBANKIT."
Alongside the investment announcement, Findi also confirmed changes to its board as part of a governance renewal process. Stephen Benton and Tineyi Matanda have been appointed as Non-Executive Directors. The appointments bring additional experience in banking, payments, investments, and corporate governance.
Findi stated that the board changes are intended to support its strategic transition toward becoming a payments-led financial services platform, with a long-term focus on its Indian operations. The company is also progressing toward becoming a listed entity in India.
TSI is a majority-owned subsidiary of Australian-listed Findi Limited. It operates a nationwide network of merchant-led payment points and ATMs, providing cash access and payment services in collaboration 12 major Indian banks, and multiple BFSI and NBFC partners across the country.
