Competing with Paytm in the digital payments market, Fino Payments Bank has its unlisted shares available on the Minance Private Market.
Fino Paytech Limited started as a payments technology company in 2006 and has been growing since. In April 2017, the launch of Fino Payments Bank happened with the approval from RBI.
The company has been working to serve the country’s banking needs and provide a seamless banking experience. It offers simple and easy-to-use products and the services that are accessible anytime, anywhere, with over 410 branches and 25,000 banking points across different parts of the country. In 10 years. Its vision is to make every citizen in the country financially secure. The aim is to ensure that none of the customers needs to travel more than 300 meters to access its services.
Fino Paytech’s business model revolves around the combination of banking with the technology, the channel of communication, target audience, and the operations. Fino Payments Bank is a subsidiary of Fino Paytech Limited. It has some big names backing up its operations. Some of them are Bharat Petroleum, Intel Capital, Life Insurance Corp. Of India, Union Bank of India, and more.
Fino Paytech offers a variety of services under its unlisted shares. Some of them include Paperless banking, Instant Money transfer, free insurance coverage of up to ₹2 lakhs, etc.
With digitalization growing in India, Fino Payments has recorded a certain tremendous growth in its graph for the financial year 2019-20. It showed an 86% increase in net revenue to ₹689 crores and posted a positive EBITDA for the same year, It is an increment in the value of the unlisted shares as well.
Due to the COVID-19 pandemic, the number of transactions doubled for digital payments reaching 380 million for FY 19-20, from 195 million in the previous year, a huge growth percentage for unlisted shares of Fino Paytech.