Undercover payments company Findi Ltd (ASX: FND) has sung over the past twelve months, lifting from $2.38 in March last year to settle at $4.56 apiece at the time of writing.

Shares in the rapidly growing payments company have been on ice since Tuesday after it announced a capital raise to fund its growth operations.

They are set to resume trading today.

Zooming in, the stock is down nearly 19% in the past month as the broad market trends lower. Let's dive into the details.

What's the deal with this payments company?

As The Australian Financial Review reported yesterday, the payments company launched a share placement to raise $45 million to fund its growth and restructure its debt.

The capital raise was split into two parts: a $40 million share placement and a $5 million share purchase plan.

Priced at $4 per share, the placement represents a 12.3% discount to Findi's last closing price.

According to the term sheet, the company plans to use the funds raised for its expansion in India, including for deploying nearly 2,300 ATMs in the region.

The financing will also settle its convertible debt with Indian-based Piramal Alternatives. The fundie is owed about $17 million as part of the deal.

The deal comes on the back of a solid year for the payments company. This comes after completing the acquisition of Tata Communications Payment Solutions (TCPSL) Indiacash business for $75 million last November.

What else has Findi been up to?

It may be under the radar, but Findi has been one busy little payments company of late.

Findi's main business is setting up and running ATMs for major Indian banks. The capital raised will help fund the deployment of over 2,000 new ATMs under an agreement with the State Bank of India.

This comes as Findi announced this week that the National Payments Corporation of India (NPCI) approved an "increase of ATM interchange fees for domestic financial and non-financial transactions".

This is expected to add another $5.5 million to the company's net profit in FY26 and FY27.

According to Findi chairman Nicholas Smedley, the company is "pleased" with the result.

We are pleased that the RBI has taken this step with the. interchange rate which will enable Findi to further drive financial inclusion across India. Our increased cash flow will be put towards new capex and accelerating the roll out of recent contract wins.

Foolish takeaway

This payments company is aggressively expanding via its growth strategy. It has just raised $45 million to finance its growth plans and wipe some debt off its balance sheet.

Zooming out, Findi is up more than 72% in the past year, reaching a peak of $8 apiece in November last year.