FINO PayTech
FINO PayTech is an India-based business and banking technology platform operating a Business Correspondent network and NBFC-MFI (Intrepid Finance) to deliver doorstep financial services such as micro-credit, remittances, and deposits to underbanked rural and semi-urban customers across 28 states.
- Company typePrivate
- Founded2006
- HeadquartersMumbai, India
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What FINO PayTech does
FINO PayTech Limited, founded in 2006 and headquartered in Navi Mumbai, India, is a business and banking technology platform combined with an extensive financial services delivery channel serving India's underbanked and unbanked population. The company operates two principal models: its own RBI-registered NBFC-MFI, Intrepid Finance & Leasing Pvt Ltd, which provides direct micro-credit, and a Business Correspondent (BC) arrangement through which it sources and services customers on behalf of partner banks including Union Bank of India and IDBI Bank. Core technology includes biometric smart card authentication, handheld Point of Transaction (POT) machines for field operations, an Aadhaar-based authentication and enrolment platform operating under a UIDAI-issued Authentication Service Agency (ASA) licence, and a Joint Liability Group lending platform that automates group-based microfinance underwriting and servicing.
The company's product portfolio spans MicroFinance Loans via JLGs (operational since 2008), domestic and international remittance services through NEFT/IMPS/intra-bank rails, third-party product sourcing such as gold loans, two-wheeler and consumer durable loans, assisted e-commerce through partnerships with Snapdeal, Yatra, and Bill Desk, and financial literacy programmes. Its wholly-owned subsidiary Fino Payments Bank Limited (in which FINO PayTech holds a 75% stake) operates 410 branches and 25,000+ banking touch points across 14 states, offering savings accounts, recurring deposits, remittances, micro-insurance, and government disbursements. BPCL holds a strategic equity stake and provides fuel-outlet distribution. Total reach exceeds 28 million active banking customers through 28,000 transaction points across 28 states.
Revenue is generated primarily through transaction fees on BC services, net interest margin on lending through Intrepid Finance and bank-partner books, deposits float at the payments bank, and cross-sell commissions on third-party financial products. The company is private, backed by international and Indian institutional investors including Blackstone GPV Capital Partners (Mauritius) and BPCL. In December 2025, Fino Payments Bank received RBI in-principle approval to transition into a Small Finance Bank, materially expanding its permitted activities into secured lending and supporting plans to add 100+ branches and 100+ asset centres over three years.
FINO PayTech firmographics
Firmographics- Name
- FINO PayTech
- Legal name
- Fino PayTech Limited
- Website
- https://finopaytech.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- FINO PayTech is an India-based business and banking technology platform operating a Business Correspondent network and NBFC-MFI (Intrepid Finance) to deliver doorstep financial services such as micro-credit, remittances, and deposits to underbanked rural and semi-urban customers across 28 states.
- Ownership category
- akta.pro rank
FINO PayTech industry classification
Industry- Product category
- Financial Inclusion Services
- NAICS
- Depository Credit Intermediation (5221), Commercial Banking (52211), Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- Finance Services (6199), Personal Credit Institutions (6141), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF)
- akta.pro secondary industries
- Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Income & Employment Verification (VOI/VOE, payroll-linked data) (FSAGACAE), Fintech & Payments Partner / ISO Referral Networks (FSAEAMAK)
Keywords
Where FINO PayTech is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
FINO PayTech business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Business Correspondent Services: BC services enabling banks to financially include underserved rural masses by offering financial products at doorsteps. Acts as alternate banking channel for end-to-end customer sourcing and servicing.
- Lending Operations: Micro credit through two approaches: BC lending on behalf of banks (UBI, IDBI Bank as partners) and directly through its own RBI registered NBFC-MFI, Intrepid Finance & Leasing Pvt Ltd.
- Third-Party Product Sourcing: Cross-selling third-party products including gold loans sourced for partner banks, two-wheeler loans, three-wheeler loans, and consumer durable loans. Target of 20% of total revenues from selling third-party products.
- Retail Financial Services: Assisted e-commerce through Snapdeal partnership, remittance services (domestic and international), micro insurance, utility bill payments, DTH/mobile recharges, travel ticketing
- Payments Bank Operations: Savings bank accounts, loan products, recurring deposits, remittances, insurance products, government disbursements through Fino Payments Bank subsidiary
Go-to-market motion3 records
Distribution channels5 records
Marketing channels3 records
FINO PayTech product offering
Product offeringCore offering
FINO PayTech operates a business and banking technology platform that delivers financial inclusion services to underbanked populations in India. It acts as a Business Correspondent for banks, governments, and insurance companies, providing doorstep banking through biometric smart card technology and POT (Point of Transaction) handheld devices. The company also runs microfinance lending via Joint Liability Groups through its own NBFC-MFI (Intrepid Finance & Leasing) and partner banks, and operates Fino Payments Bank as a 75%-owned subsidiary offering savings accounts, deposits, remittances, and government disbursements.
Product overview
Fino PayTech is a business and banking technology platform combined with an extensive services delivery channel. The company operates through two main models: its own NBFC-MFI (Intrepid Finance & Leasing Pvt Ltd) and Business Correspondent services to various banks. Its core offerings include the Fino Customer Acquisition System with Hardware & Software Solutions (biometric products and POT machines), MicroFinance Loans through Joint Liability Groups, and Remittance Services via NEFT, IMPS, and intra-bank transfers. The company also operates Fino Payments Bank Limited (75% subsidiary) as a Payments Bank entity, and Fino Money (retail brand) with FINO Money Marts outlets. The subsidiary FFPL Finserv Private Limited provides additional financial services. The platform enables end-to-end customer sourcing and servicing for financial inclusion, serving micro customers through both digital and assisted channels.
Differentiator
Problem solved
Functional benefit
Brands
- Fino Payments Bank: Payments Bank subsidiary offering digital banking services
- FINO Money
- Fino Money Marts
- Intrepid Finance & Leasing Pvt Ltd
Products and services
- Business Correspondents Services Business correspondent services that enable banks to financially include underserved rural and semi-urban masses by offering financial products at the doorsteps of micro customers. Acts as an alternate banking channel for end-to-end customer sourcing and servicing.
- MicroFinance Loans (Joint Liability Group - JLG) Group-based microfinance lending where a group of individuals (usually five) take loans for income-generating activities with mutual guarantee. Delivered on behalf of banking partners and through FINO's own NBFC-MFI books.
- Remittance Services Domestic and international money transfer services via Intra-bank (home bank), Inter-bank (NEFT), and IMPS facility, targeting the 70% informal remittance market.
- Fino Payments Bank Limited Payments Bank subsidiary (75% stake) offering savings accounts, loan products, recurring deposits, remittances, insurance products, and government disbursements. RBI in-principle approval received in December 2025 to transition into a Small Finance Bank.
- Intrepid Finance & Leasing Pvt Ltd (NBFC-MFI) Wholly-owned RBI-registered NBFC-MFI providing micro credit directly to borrowers, with funding partners including SBI, Yes Bank, IDBI, Dena Bank, Reliance Capital, MAS Financial, and IFMR.
- Fino Money (Retail Financial Services) Retail financial services brand targeting low-income households, offering remittances, micro insurance, micro credit, utility bill payments, DTH/mobile recharges, and travel ticketing through merchant points and FINO Money Marts.
- Hardware & Software Solutions Full suite of biometric products for customer enrolment, storage, and verification using handheld POT machines and biometric smart card devices, enabling paperless eKYC and doorstep customer acquisition.
- Customer Enrolment Solutions (Aadhaar-based) Aadhaar-based authentication and enrollment solutions. Licensed ASA (Authentication Service Agency) from UIDAI offering various AUA (Authentication User Agency) and related services for customer onboarding and verification.
- Assisted E-Commerce E-commerce facilitation at neighborhood stores for customers without easy internet access, partnering with Snapdeal, Yatra, and Bill Desk to extend digital commerce to underserved populations.
- Gold Loan Sourcing Sourcing of gold loans on behalf of partner banks, with approximately Rs 200 crores sourced for around 30,000 customers as part of third-party product distribution.
- Consultancy Services Business consultation services including strategic planning, expert consultation, and ongoing support tailored to the needs of banks, governments, and insurance companies.
Quantifiable outcome
- Over 28 million active banking customers serviced through 28,000 transaction points across 28 states
- +2 more outcomes
Companies that use FINO PayTech
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles4 records
FINO PayTech technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
FINO PayTech partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- Union Bank of IndiacoreAppointed Bank Mitras extending PMJDY and social security schemes in rural Uttar Pradesh for Union Bank of India
- BPCL (Bharat Petroleum Corporation Limited)coreStrategic partnership for payments bank foray. BPCL outlets to act as digital banking points for Fino Payments Bank. BPCL also acquired strategic stake in FINO PayTech Ltd.
- Thomas CookminorPartnership to offer outward remittance service
- Reliance Commercial FinanceminorPartnership for payments bank offerings including lending products
- World Bank IndiacoreJoint venture project PFMS FL (Bihar) with World Bank India - awarded SABRE Award South Asia 2016 in Financial Communications category
- SnapdealcoreStrategic tie-up for payments bank launch. Assisted e-commerce model through Snapdeal partnership, later expanded with Yatra and Bill Desk as online partners.
- Tata Communications Payment Solutions LimitedminorStrategic tie-up announced for payments technology solutions
- UIDAI (Unique Identification Authority of India)coreLicensed ASA (Authentication Service Agency) from UIDAI providing Aadhaar-based authentication and enrollment services. Offers various AUA (Authentication User Agency) and related services.
- Union Bank of India (UBI) and IDBI BankcorePartner banks for BC (Business Correspondent) lending operations. Fino facilitates lending on behalf of these banks.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
FINO PayTech competitors and assessment
Company assessmentBroad incumbents
- Equitas Small Finance Bank: Listed Indian Small Finance Bank with microfinance, MSME, and vehicle finance focus. Highly relevant as a public-market benchmark for Fino Payments Bank's planned SFB transition in product mix and target segment.
- Bandhan Bank: Universal commercial bank that began as a microfinance institution, providing a useful trajectory benchmark from NBFC-MFI to full-service bank. Comparable in microfinance lending heritage, though now significantly larger and more diversified.
- AU Small Finance Bank: Listed Indian Small Finance Bank focused on vehicle finance, MSME lending, and rural/semi-urban banking. Provides a comparable transition benchmark for Fino Payments Bank as it moves to an SFB license, though AU is more retail/asset-focused.
- Bajaj Finance: Large Indian NBFC with diversified retail lending including consumer durable loans, two-wheeler finance, and gold loans. Overlaps with Fino's third-party product sourcing targets (CD loans, gold loans, 2W/3W loans).
Direct peers
- India Post Payments Bank: Government of India-owned Payments Bank leveraging India's post office network for last-mile banking. Direct peer on Payments Bank license, financial inclusion mandate, and rural distribution model serving underbanked customers.
- Airtel Payments Bank: One of India's licensed Payments Banks, operated by Bharti Airtel. Directly comparable to Fino Payments Bank on product set (savings, deposits, remittances, bill pay) and target segment (underbanked/mass market), with distribution via Airtel's telecom retail and digital channels.
- Eko (Eko India Financial Services): Fintech providing digital banking, payments, and financial services through a BC/agent network targeting small merchants and underbanked customers. Comparable business model and customer segment to Fino PayTech's BC and fintech platform offering.
- Spice Money: Business correspondent and fintech platform offering digital banking, AePS, remittance, and financial inclusion services through a large agent network. Closely comparable to FINO's BC-led, doorstep-service model for unbanked customers.
- Jio Payments Bank: Reliance Jio's Payments Bank entity. Closest direct peer to Fino Payments Bank, operating under the same RBI Payments Bank framework, targeting mass-market and underbanked customers, with distribution anchored by Jio's telecom and retail footprint.
Others
- Paytm (One97 Communications): Listed Indian digital payments and financial services company. Adjacent competitor in digital payments, bill pay, and merchant payments; relevant ecosystem comparable though Fino's payments bank license lapsed whereas Paytm operates a payments aggregator model.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
FINO PayTech social profiles
Digital presenceFINO PayTech financial estimates
Financial estimateRevenue estimate
Valuation estimate
FINO PayTech leadership team
Management profileNumber of profiles
Profiles10 records
FINO PayTech subsidiaries and ownership
Company hierarchySubsidiaries5 records
FINO PayTech funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FINO PayTech M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about FINO PayTech
What does FINO PayTech do?
FINO PayTech operates a business and banking technology platform that delivers financial inclusion services to underbanked populations in India. It acts as a Business Correspondent for banks, governments, and insurance companies, providing doorstep banking through biometric smart card technology and POT (Point of Transaction) handheld devices. The company also runs microfinance lending via Joint Liability Groups through its own NBFC-MFI (Intrepid Finance & Leasing) and partner banks, and operates Fino Payments Bank as a 75%-owned subsidiary offering savings accounts, deposits, remittances, and government disbursements.
Is FINO PayTech a public or private company?
FINO PayTech is a private company. It is classified as venture growth investor backed and is currently operating.
When was FINO PayTech founded?
FINO PayTech was founded in 2006. It employs 11 to 50 people.
Where is FINO PayTech based?
FINO PayTech is headquartered in Mumbai, India, in the Asia region.
How does FINO PayTech make money?
Five revenue lines are on record. Business Correspondent Services are the primary driver. The others are lending Operations, third-Party Product Sourcing, retail Financial Services and payments Bank Operations.
Who are FINO PayTech's main competitors?
Broad incumbents on record are Equitas Small Finance Bank, Bandhan Bank, AU Small Finance Bank and Bajaj Finance. Direct peers are India Post Payments Bank, Airtel Payments Bank, Eko (Eko India Financial Services), Spice Money and Jio Payments Bank. Paytm (One97 Communications) is listed as an others.
Does FINO PayTech have an API?
No public API is recorded for FINO PayTech.
What industry is FINO PayTech in?
FINO PayTech's product category is Financial Inclusion Services. Its primary akta.pro industry code is FSAGAAAF, Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P), with a secondary code of FSAGABAN, Payouts, Disbursements & Mass Payments Infrastructure. Its NAICS code is 5221 and its SIC code is 6199.