Findi has secured around $28.3 million through an institutional placement and share purchase plan to boost its India footprint, while FirstCry has lined up investments in its global subsidiaries.
Findi raises $28m to expand India footprint
Fintech firm Findi has secured around $28.3 million (Rs 243 crore) through an institutional placement and share purchase plan to boost the India footprint of its subsidiary Transaction Solutions International (India) Pvt Ltd (TSI).
The company plans to use the capital to expand its ATM and franchise network in India, scale merchant payment solutions, strengthen partnerships with financial institutions, and improve the financial accessibility of the underbanked Indians.
Established in 2025, TSI provides solutions in the ATM & Managed Services, Merchant Assisted Marketplace, Electronic Surveillance and Power Management space. Earlier this month, Findi acquired Tata Communications Payment Solutions Limited (TCPSL) and its Indicash brand to expand its payment solutions. It also planns to acquire BankIT to expand its merchant network.
FirstCry to ramp up investment in global businesses
Kidswear brand FirstCry plans to invest $17 million (Rs 146 crore) in its international business, Globalbees Brands, in tranches over a period of 12 months.
Globalbees, the house of brands subsidiary of FirstCry, is a brand aggregator and operates in personal care, home care, fashion and lifestyle.
The company will also invest Rs 21 crore in its foreign subsidiary, Firstcry Management DWC LLC, UAE (FC Management), to establish stores and warehouses in the UAE. After the announcement, shares of FirstCry dropped around 5% during intraday trading on Thursday to hit an all-time low of Rs 355.20 on BSE.
