Fino Payments Bank announced that its board of directors has approved a 12.19 percent minority strategic investment in New Delhi-based fintech Paysprint Pvt Ltd. Fino Payments Bank is making its first strategic investment since becoming public. This is in addition to the bank’s Fino 2.0 projects, which include many internal programmes aimed at creating a digital ecosystem for its customers.
- Paysprint, a profitable fintech, is a fast-growing financial technology firm that provides next-generation application programming interfaces (APIs) in banking, payments, travel, lending, insurance, and investment, among other fields.
- Paysprint’s co-founder and CEO, S Anand, said the fintech company is excited to collaborate with Fino Payments Bank and combine technical knowledge to develop innovative banking products and solutions that will increase consumer acceptance.
- Paysprint completed its first full year of operations in FY22, with an annual GMV of Rs 5,500 crore.
In FY23, the robust growth pace is likely to continue. During the year, it also onboarded over 600 partners from banks, NBFCs, MSMEs, fintech, and other start-ups.