Findi Secures $30 Million Facility, Acquires Sphere, and Sets Strong FY26 Outlook

Findi Group (ASX: FND) has unveiled a suite of strategic moves aimed at accelerating its growth trajectory ahead of a planned IPO in India by financial year 2027. The digital payments and financial services provider has secured a new $30 million debt facility, entered into an agreement to acquire technology company Sphere, and released guidance pointing to robust revenue growth in FY26.

The new debt facility will replace an existing $9.5 million loan and is designed to unlock up to $40 million in restricted cash from Findi’s Indian subsidiary, Transaction Solutions International. This capital release is expected to enhance liquidity and support the expansion of Findi’s ATM and branch infrastructure across India, particularly the rollout of the BC Max program in partnership with the Central Bank of India.

Executive Chairman Nicholas Smedley said the moves come as the business stabilises following a period of integration and investment. “The first half of FY26 has presented a number of short-term challenges as we completed the integration of two major acquisitions and worked through delays in ATM deployments,” he said. “These one-off factors have temporarily impacted earnings, but importantly they are now behind us.”

As operations recover, Findi is forecasting a full year FY26 revenue of between $100 million and $105 million, up from $61.6 million in FY25. Operating EBITDA is expected to be $10 million to $12 million, or $18 million to $20 million when excluding non-recurring items such as funding delays and one-off legal costs. The company expects a strong rebound in the second half, with an annualised run-rate by March 2026 of more than $130 million in revenue and $30 million in EBITDA.

In a separate but complementary move, Findi has executed a share sale agreement to acquire 100 percent of Sphere (For Good) Holdings Pty Ltd, a technology firm offering bank-grade loyalty, rewards and environmental, social and governance platforms. The Sphere platform is already operational with major partners, including Emirates NBD’s digital bank Liv.

The acquisition, valued at up to $6 million and payable in Findi shares, will allow Sphere’s technology to be integrated across FindiPay, BankIT merchants, BC Max Centres and the White Label ATM business. This opens the door to features such as carbon-linked rewards, micro-donations and pay-with-points functionality, which are expected to drive incremental transaction-based revenue and enhance Findi’s ESG credentials.

Following the acquisition, Stephen Benton, former CEO of EFTPOS Australia, and Tineyi Matanda, Investment Director at Salter Brothers, will join Findi’s board. Current Non-Executive Director Simon Vertullo will step down prior to the end of FY26.

Findi has completed the integration of its recent acquisitions, creating one of India’s largest hybrid financial service networks, with more than 175,000 locations. The digital segment now contributes approximately one-third of total group revenue, reflecting the company’s evolution toward a full-service digital and physical banking model.

“With an enhanced balance sheet, expanded technology suite and strong pipeline of growth initiatives, Findi remains on track for its planned FY27 IPO on the Bombay Stock Exchange and the progression toward Payments Bank status,” Smedley said.