28 October 2024
We expand our technology coverage with the initiation of Findi Limited (FND). FND is an ASX-listed fintech and one of the largest non-bank ATM operators in India, with a network of ~21k ATMs deployed across the country. Following a change of Board and corporate structure in late-2021, Findi has implemented an aggressive growth agenda; signing multi-year deals with two of India’s largest banks, increasing EBITDA by a factor of ~3x, and expanding its FindiPay
(ie. digital offering) from a standing start to ~38k touchpoints. We expect this type of dynamism to continue and believe the company is inexpensive relative to small cap ASX tech peers (even after adjusting for emerging market risk). Accordingly, we initiate with a BUY recommendation.
Findi carves out $75m unit from India’s Tata
The $334million payments provider Findi has had a ripper year. … Continued
Growing, profitable and catalyst rich – initiate at BUY
We expand our technology coverage with the initiation of Findi … Continued
Payment provider Findi lands licence for branded ATMs in India
ASX-listed payment provider Findi, backed by the Flannery family, is … Continued
March of the small-cap fintechs
Small-cap fintech players Findi and OFX are marking one of … Continued
CRITERION: Who’s cashing in on cashing out in India?
Cash here is becoming like the orange-bellied parrot – highly … Continued
Payment provider Findi lands licence for branded ATMs in India
ASX-listed payment provider Findi, backed by Wilson Asset Management and … Continued
Cash Still King; Digital on the Rise
Need to know Listed exposure to growing Indian fintech market … Continued