Findi bags ₹500 Cr deal from Union Bank of India to roll out 900 ATMs in India

Findi, a cash and payments services provider, has joined hands with the public sector bank Union Bank of India to install 900 ATMs across the country. The Australian listed entity has won the contract through its majority-owned Indian subsidiary, Transaction Solutions International (TSI). This deal is valued at approximately ₹500 crore in revenue and ₹200 crore in EBITDA over a 7+1 year period.

Currently, through TSI, Findi operates over 9,000+ Brown Label ATMs across India, catering to 13 major banks, including SBI, HDFC Bank, and Central Bank of India. With Union Bank of India joining its portfolio, Findi continues its mission to enhance banking infrastructure in underserved urban and rural areas. This expansion aligns with the company’s broader vision of improving financial accessibility through its extensive merchant network.

This marks Findi’s third major partnership of the year. Recently, the company acquired BankIT, a digital payments provider with over 129,000+ merchant touchpoints, expanding its total network to over 180,000. Additionally, Findi secured Reserve Bank of India (RBI) approval for the full acquisition of Tata Communications Payment Solutions Ltd, further solidifying its leadership in India's financial services sector.

Deepak Verma, MD & CEO of Findi, said,"By growing our reach, especially in semi-urban and rural regions, we are strengthening financial inclusion and supporting India's vision of a more digitally connected economy."