Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers


February 09, 2016 6:26 PM ET

Software

Company Overview of FINO PayTech Ltd.

Company Overview

FINO PayTech Ltd. offers designing and implementing technology solutions for banks, micro finance institutions (MFIs), insurance companies, government entities, and consultants in India. Its products include FINO Tijori, a biometric smart card based no frills saving account product that enables banks/MFIs to offer financial products, such as loans, remittance, and insurance to their customers by issuing multi-application smart cards; FINOSaral, an end-to-end loan management solution that enables each branch of the bank/MFI to reach out to a large number of loan applicants and process the loan applications; and FINO Tatkaal, which provides a technology platform and processing capabilities for...

Plot no. 38 & 39, Sector 30

Near Sanpada Railway Station

Sanpada west

Navi Mumbai

Mumbai,  400705

India

Founded in 2006

Phone:

91 22 4161 3466

Fax:

91 22 2781 0721

Key Executives for FINO PayTech Ltd.

Chief Executive Officer, Managing Director and Director
Head of Operations
Head of Systems
Chief Technology Officer
Director of Business Development & Government Initiatives
Compensation as of Fiscal Year 2015.

FINO PayTech Ltd. Key Developments

FINO PayTech To Raise Funds

FINO PayTech Ltd. intends to raise funds through private equity. The company will name its bank 'Fino Payments Bank', which plans to start operations in 2016. Rishi Gupta, Managing Director and Chief Executive Officer of the company said: "The name of the bank will be Fino Payments Bank, and Fino PayTech is the operating holding company of the bank. As per regulation, 51% holding should be domestic for the promoter entity. In the bank, foreign shareholding can be 74%. So there is higher restriction for the promoter and lower restriction for the bank. Right now, Fino as promoter has 70% foreign shareholding. That needs to be brought down. As we are raising INR 4 billion to INR 5 billion, this will help us reduce the foreign shareholding. We are planning to raise the resources from private equity, strategic investors."

ICICI Group Seeks To Acquire Stake In FINO PayTech Through ICICI Lombard General Insurance

FINO PayTech Ltd. will raise fresh funds from domestic institutional investors as it prepares to face competition from nimble rivals and reduce foreign shareholding in the company to comply with RBI regulations. As a result, ICICI Bank Ltd. (NSEI:ICICIBANK), which owns around 16% in FINO PayTech Ltd, is likely to increase its stake through ICICI Lombard General Insurance Company Limited and will also be the partner bank for FINO's new venture, FINO's Managing Director & Chief Executive Officer Rishi Gupta said in an interview.

FINO PayTech Seeks Private Placement

FINO PayTech Ltd. is mulling to raise $60-80 million in the next six months most probably through a private placement with strategic investors or one or more PE player, according to Rishi Gupta, Managing Director and Chief Executive Officer at FINO PayTech.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact FINO PayTech Ltd., please visit www.finopaytech.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.