ASX-listed payment provider Findi, backed by the Flannery family, is … Continued
31 January 2024
![](https://findi.co/app/uploads/2024/01/iStock_000042827030_XXXLarge-min-1140x760.jpg)
Need to know
- Listed exposure to growing Indian fintech market
- Large ATM footprint generating significant cashflow for returns and reinvestment in digital banking services
- New funding shows potential valuation read through
Direct exposure to a global emerging market: Findi is the only Australian listed company that provides direct access to the emerging Indian fintech market, which services 1.4 bn people (~25% remain unbanked) and remains heavily dependent on cash transactions. Findi’s strong ATM network is highly cash generative and supports its digital services growth, diversifying the business.
Key partnerships with major market players: Findi’s 20.5k ATM network is underpinned by two highly significant agreements – with the State Bank of India and the Central Bank of India. 80% of Findi’s revenue base is contracted, with the average contract length almost 5 years, aiding earnings certainty.
Recent funding agreement: Findi’s 100% owned Indian subsidiary, TSI India, raised A$37.6m via Compulsory Convertible Debentures (CCDs) from leading Indian investment group, Piramal Alternatives (owned by Canada’s largest pension fund, CDPQ). Upon an expected TSI IPO, the CCDs will convert to ~16.7% of equity, implying a total market cap for TSI India of ~A$225m…
![shutterstock_11981992 shutterstock_11981992](https://findi.co/app/uploads/2024/06/shutterstock_11981992.jpg)
March of the small-cap fintechs
Small-cap fintech players Findi and OFX are marking one of … Continued
![findi-atms-india-640x360 findi-atms-india-640x360](https://findi.co/app/uploads/2024/06/findi-atms-india-640x360-1.webp)
CRITERION: Who’s cashing in on cashing out in India?
Cash here is becoming like the orange-bellied parrot – highly … Continued
![business modern business center in hongkong](https://findi.co/app/uploads/2024/04/iStock-486481014_smaller.jpg)
Payment provider Findi lands licence for branded ATMs in India
ASX-listed payment provider Findi, backed by Wilson Asset Management and … Continued
![iStock_000042827030_XXXLarge-min iStock_000042827030_XXXLarge-min](https://findi.co/app/uploads/2024/01/iStock_000042827030_XXXLarge-min.jpg)
Cash Still King; Digital on the Rise
Need to know Listed exposure to growing Indian fintech market … Continued
![India-1-1536x864 India-1-1536x864](https://findi.co/app/uploads/2024/02/India-1-1536x864-1.jpeg)
‘India is where China was in 2006’ – Here are Banyantree’s top three India-focused stocks
Banyantree says HDFC is one India’s largest banks and will … Continued
![India-e1705825480656-1536x864 India-e1705825480656-1536x864](https://findi.co/app/uploads/2024/02/India-e1705825480656-1536x864-1.jpeg)
The new Middle Kingdom – Why Banyantree thinks India is like China in 2006
Banyantree Investment Group growth says India has all the elements … Continued