• Acquisition of BankIT for A$30 million accelerates Findi's growth strategy by 2 years
• Delivers ~130,000 additional merchants across India, expanding FindiPay to ~200,000 merchants
• Findi digital (FindiPay + BankIT) now operating and free cash flow positive

Digital payments and financial services provider Findi Limited (ASX: FND) has announced that its majority owned subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI), has agreed to acquire BankIT Services Pvt. Ltd. (BankIT) for A$30 million. BankIT is a profitable new-age, high-touch, digital financial products distributor and lead enabler for its partners, focused on bridging the financial gap in India. The acquisition accelerates Findi's growth strategy by two years, providing the company with c. 25% of its consolidated revenues from digital payments post completion. It delivers c.130,000 additional merchants across all States and Territories of India, and growing at a combined 4,000+ new merchants per month. BankIT has a Gross Transaction Value of c. A$3 billion, Revenue of A$33.6 million, EBITDA of A$1.9 million (5.6% EBITDA margin), and NPAT of A$1.4 million. The acquisition is expected to complete before the end of the financial year (by 31 March 2025). Findi's digital business FindiPay is now self-funding and cash flow positive. The acquisition also enhances cross-selling opportunities, including insurance and other financial services, across the group's innovative core products and services while supporting Findi's own branded White Label ATM (WLA) strategy.

The acquisition is expected to be immediately accretive to cash earnings before synergies and operational improvements, with NPAT being a good guide for free cash flow. Operational efficiencies are expected to be delivered in FY26.

The acquisition is a transformational step-change for Findi on its pathway to becoming an Indian payments bank, as BankIT accelerates the expansion and diversification of the company's existing offering and revenue streams. Findi will now focus on consolidating recent acquisitions and executing the roll out of its WLA and Payments Bank strategies, while pursuing targeted bolt-on expansions and organic growth to further scale the business in preparation for the IPO of TSI India, which remains on track for calendar year 2026.