Findi (ASX:FND) said that its majority-owned unit, Transaction Solutions International (India), completed the acquisition of BankIT Services, according to a Monday Australian bourse filing.
Findi's Executive Chairman Nicholas Smedley said that the firm will focus on further scaling the business through organic growth and bolt-on opportunities ahead of the planned initial public offering of the Indian unit in 2026, the filing said.
The acquisition of the digital financial products distributor will allow Findi to add around another 130,000 merchants across all Indian states and territories. It will also support the firm's strategic objective of evolving into a fully-fledged payments bank, per the filing.
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