The strategic investment is a first for Fino Payments Bank after its public listing in November 2021. Credit: rupixen.com on Unsplash.

Indian private sector lender Fino Payments Bank has wrapped up the acquisition of a 12.19% stake in fintech firm PaySprint.

The deal, first announced in April this year, is the first for Fino Payments Bank after its public listing.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Paysprint is a New Delhi-based fintech, which offers application programming interfaces (APIs) in the areas of banking, payments, travel, lending, insurance and investment among others.

In an exchange filing, the bank said, “We wish to inform you that, the bank has executed the share subscription and shareholders’ agreement with PaySprint.”

The aggregate value of the deal is around INR4m.

The partnership with Paysprint is anticipated to synergise on a variety of financial and non-financial use cases for customers via API plug-ins to the lender’s digital platforms.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Fino Payments Bank hopes to attract more customers through the deal and deepen relationships with existing customers. 

At the time of the announcement of the deal, Fino Payments Bank MD & CEO Rishi Gupta said: “The journey of Fino as a group has come to a full circle. We were incepted to provide BC banking services through a technology platform to various financial institutions across the country.

“As we continue our journey as a Payments Bank today, we are now partnering with new age technology companies that will transform the digital banking space in the days to come.”