How Will Findi’s $30m Facility and Sphere Acquisition Fuel Its FY26 Growth?

Strengthening Financial Foundations

Findi Limited (ASX – FND), a digital payments and financial services provider, has taken significant steps to bolster its growth trajectory with the arrangement of a new A$30 million debt facility. This facility replaces the existing A$9.5 million loan notes and importantly unlocks up to A$40 million of restricted cash from its Indian subsidiary, Transaction Solutions International (TSI India). The enhanced liquidity is set to accelerate Findi’s expansion, particularly the rollout of its BC Max branch program in partnership with the Central Bank of India and the expansion of its Brown Label ATM network.

Strategic Acquisition to Enhance Technology and ESG Credentials

In a move that deepens its technology capabilities, Findi has executed an agreement to acquire Sphere (For Good) Holdings Pty Ltd for up to A$6 million in shares. Sphere’s Carbon platform offers bank-grade loyalty, rewards, and environmental, social, and governance (ESG) functionalities already deployed with major partners like Liv (Emirates NBD). Integrating Sphere’s platform across Findi’s ecosystem, including FindiPay, BankIT merchants, and BC Max Centres, will enable innovative features such as carbon-linked rewards and micro-donations, enhancing monetisation and customer engagement ahead of Findi’s planned Indian IPO in FY27.

Board Renewal Signals Next Growth Phase

Findi is also refreshing its leadership with the planned appointment of two new non-executive directors following the Sphere acquisition – Stephen Benton, former CEO and Managing Director of EFTPOS Australia, and Tineyi Matanda, Investment Director at Salter Brothers. Their expertise in payments and financial services is expected to support Findi’s transition toward becoming a Payments Bank and a listed entity on the Bombay Stock Exchange. Meanwhile, current director Simon Vertullo will retire prior to the end of FY26.

FY26 Guidance Reflects Strong Growth Despite Short-Term Challenges

Findi’s first half of FY26 faced headwinds from non-recurring costs related to acquisition integrations, ATM rollout delays, and legal expenses, which temporarily suppressed earnings. The company expects full-year operating revenue between A$100 million and A$105 million, a 60% increase on FY25, and operating EBITDA of A$10-12 million. Excluding non-recurring items, EBITDA could be as high as A$18-20 million. Findi anticipates a strong rebound in the second half, with an annualised run-rate by March 2026 forecast at over A$130 million in revenue and A$30 million in EBITDA, driven by portfolio synergies and resumed ATM network expansion.

Positioning for a Transformational FY27

Having completed the integration of its major acquisitions TCPSL and BankIT, Findi now operates one of India’s largest hybrid financial service networks with over 175,000 ATM and payment locations. Digital revenue now accounts for approximately one-third of group revenue, underscoring Findi’s evolution toward a “phygital” banking model that blends physical and digital services. With a strengthened balance sheet, expanded technology suite, and a clear pathway to Payments Bank status, Findi is well positioned for its planned IPO on the Bombay Stock Exchange in FY27.

Executive Chairman Nicholas Smedley emphasised the company’s readiness – “The steps we’ve taken over the past 12 months place Findi in its strongest position to date. Our focus now is on execution and delivery, with momentum building through the second half of FY26 and into FY27 to create sustained value for shareholders.”