Fino Paytech Essentials

In the report of Fino Paytech Unlisted Shares, you will get a complete analysis. 

- Fino Paytech IPO Details
- Fino Paytech Upcoming IPO Details
- Expected Fino Paytech IPO Date
- Expected Price Band
- Management Details (Ownership)
- Business Model
- Key Ratios
- Peer Comparisons
- Complete financial reports (Profit and Loss Statements, Balance Sheets, Results, Growth, Valuations, Funding Rounds)
- Latest News (Articles and Videos)
- Upcoming and Past Events Details
- Rating and recommendations for the Company's shares (Whether to Buy/Sell/Hold)

- Fino Paytech Share Price (Latest unlisted share price list)

Complete analysis of FINO PayTech Limited ("Fino")



Face Value


Total Share


Total Income

₹1,00,081.90 L

Profit After Tax

-₹5,314.69 L







Market Capitalisation

₹1,865.58 Cr

Enterprise Value

₹813.23 Cr

Book Value


Earnings Yield

-3.21 %




Payment Infrastructure



Cashflow - Operations

₹21,739.44 L

Cashflow - Financing

₹2,035.30 L

Fino Paytech Growth

Compounded Sales Growth

  • 19.93%

    1 Year

  • 23.82%

    3 Year

  • 29.13%

    4 Year

Pro Only

Compounded Profit Growth

  • -5.45%

    1 Year

  • 10.17%

    3 Year

  • 24.91%

    4 Year

Pro Only

Return On Equity

  • -7.44%


  • -8.28%


  • -22.72%


Pro Only

About Fino Paytech

  • FINO PayTech Limited ("Fino") 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 remittance transaction.
  • The company also offers credit scoring, third party verification and risk management, core banking ASP, and business correspondent services, as well as an electronic banking technology payment platform.
  • Fino has tie-up with commercials banks to sell their financial products like mutual fund, insurance, to get other income.
  • Fino Paytech has developed applications to acquire micro-customer and prepares biometric products for enrollment, storage, verification. The company also takes care of day-to-day management of operations.
  • Founded on July 13, 2006, is headquartered at Mumbai, Fino Paytech is an institutional investor-driven company owned by international and Indian investors.
  • Founder Mr. Khera has been honored and recognized as “Young Global Leader of 2011” by world Economic Forum and he has received praise for his role as one of the thought leaders in the financial inclusion and microfinance space in India.

  • Fino Paytech IPO Details

Fino Payment Bank which is subsidiary of Fino Paytech has been listed, but there is no news of an IPO for Fino Paytech.

  • Fino Paytech Merger & Acquisition


  • The company acquired Alpha Payment Services India Private Limited (Alpha) from Nokia on 27 June 2012, with a view to enter prepaid mobile payment business space under the name Takatak Money.
  • Fino Paytech Subsidiaries

  • FINO Finance Private Limited  
  • FINO Payments Bank Limited 
  • FINO Financial Services Pvt. Ltd.
  • FINO Trusteeship Services Ltd(Associate Company)

Fino Paytech Business Model

  • Fino Finance Private Limited (Formerly Intrepid Finance and Leasing Private Limited): It is a non-deposit taking NBFC-MFI registered with the RBI. They provide customer-centric financial services, mainly in the form of micro-credit, to the under-served and un-served women population and MSMEs of the country.
  • FINO Payments Bank Limited is an instant interbank electronic fund transfer service, which can be accessed from Mobile Banking or Net Banking. As a FINO Bank customer you can send money instantly to anyone in any participating bank (including another FINO Bank customer).
  • FINO Financial Services Private Limited is a private limited company based in Mumbai, India. The company is registered at Registrar of Companies, Mumbai (RoC-Mumbai) and is classified as the Indian Non-Government Company. 
  • Fino Trusteeship Services Limited was incorporated on 14 May, 2009. The company is primarily engaged in providing trusteeship services. It currently acts as a trustee for Fino ESOP Trust and Fino Fintech Foundation Trust.
  • Fino Paytech Revenue Segmentation

  • Corporate
  • Lending
  • Retail
  • Others
  • Fino Paytech Product & Services


  • Consultancy Services
  • Financial Literacy
  • Business Correspondents Services

Hardware Solutions:

  • Biometric Smart cards
  • Backend Switches
  • Micro deposit machines

Operations Solutions:

  • Field force monitoring System
  • Transaction processing system
  • Applications service provider Solutions

Customer Enrollment solutions:

  • Its customer acquisition System allows banking services at customer doorstep which is quick and simple for customer.
  • Mobile kit-based enrolment system 
  • Card Personalization Bureau.
  • Fino Paytech Assets

Assets as of FY22

Plant & Machinery53
Computer Hardware
Computer Software9
  • Fino Paytech Industry Overview

Industry Statistics

Fintech Overview :
  • Financial technology (Fintech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services. Fintech is utilized to help companies, business owners and consumers better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones.
  • The Indian Fintech market is currently valued at $31 Bn. According to the Global Fintech Adoption Index 2019, fintech adoption was doubling every two years before the pandemic struck. From 2015 to 2019, the industry grew from 16% to 64% in terms of the adoption rate of consumers.

Growth Drivers :

  • Factors driving the growth of the fintech industry include the rise of neo banking, which provides services like payment gateway, payment processing, cash delivery, online payments, and other banking solutions resulting in easier, faster, and more efficient access to financial services. Another factor is the upsurge in the number of lending platforms that process personal and business loans efficiently and digitally.
  • Other growth factors include the rise of digital payments, the increase in insurtech companies, and increased tech adoption in recent years.
  • Regulations in the Indian fintech industry include the Payment and Settlement Systems Act (2007), peer-to-peer lending platform directions of 2017, NCPI regulations regarding UPI payments, the Banking Regulations Act of 1949 governing payment banks, as well as regulations by RBI on NBFCs.

Competitive Landscape :

  • Key competitors for the company include companies like Pinelabs, ZestMoney, Digispice Technologies, etc.

Future Prospects

Outlook :

  • The Indian Fintech market, currently valued at $31 Bn in 2021, will grow to $84 Bn by 2025, at a CAGR of 22%. 
  • AI (Artificial Intelligence) and ML (Machine Learning) are the emerging future trends in financial technology. In the near future, all the Fintech companies will move to leverage the potential of AI to provide better services to their customers.

Government Initiatives

  • To make the Government services available electronically to all citizens, the Government of India launched the Digital India campaign. The initiative aimed at the development of a stable and secure digital infrastructure through AADHAR, Digital Saksharta Abhiyaan, DigiLocker, etc., and the introduction of multiple online services to facilitate greater reach and accessibility like the Accessible India Campaign, BHIM (Bharat Interface For Money), E-Panchayat, E-Hospital, etc. The increased adoption of digital infrastructure would also provide a wider market for the Fintech industry in the country.
  • Strategic moves by the Government and the Reserve Bank of India (RBI) to create technology rails that facilitate such innovation (including targeted initiatives such as UPI, GST, Account Aggregator framework) have proved to be beneficial for Fintechs.
  • The recent regulatory initiatives taken up by the Government include introduction of the video-based customer identification process (V-CIP) and allowing digitally signed valid documents sourced through the DigiLocker or an issuing authority for KYC-related purposes.
  • Ministry of Electronics & Information Technology (MeitY) has been entrusted with the responsibility of leading this initiative on “Promotion of Digital Transactions including Digital Payments” which will massively benefit the fintech industry.
  • In August 2021, Prime Minister Mr. Narendra Modi launched e-RUPI, a person and purpose-specific digital payment solution. e-RUPI is a QR code or SMS string-based e-voucher that is sent to the beneficiary’s cell phone. Users of this one-time payment mechanism will be able to redeem the voucher at the service provider without the usage of a card, digital payments app, or internet banking access.
  • To improve liquidity with small businesses, the Reserve Bank of India (RBI) in 2017 instituted an online bill-discounting platform called The Trade Receivable Discounting System (TReDS). With TReDS, the cash-strapped MSMEs can raise funds by selling trade receivables from corporates.

Fino Paytech Awards & Achievements

  • Fino Payments Bank has received the award for outstanding performance in digital payments for FY 18-19 from Meity. Ranked 1st in digital transaction scorecard for the month of June ’19 amongst all banks
  • Best Emerging Payment Bank of the Year – ETBFSI Excellence Awards 2019
  • Fino Paytech’s Aadhar based project won the Order of merit awards as one of the Top 100 Projects in India at the Skoch New Economy Awards, 2016.
  • MD and CEO Rishi Gupta was awarded this title in ‘Winning Edge’ in the raising capital/Fund management category in year 2013.

Fino Paytech Strengths

  • Business model of Fino paytech derives its strength from the robust in-house technology, the versatility of operations, the scale of the channel, and customer know-how. The challenges of serviceability and scalability of traditional banking channels have been addressed by way of innovations.
  • Company has been serving the under-banked micro customer segment for over a decade and considers this as an acknowledgment of the work company has done. 
  • The company has developed a unique customer enrollment system that uses minimal technology and allows the underserved and unbanked population to gain an access to banking and holds a dominant position in that segment.

Fino Paytech Shortcomings

  • Due to the net loss in FY'21 being higher than FY'20, the company's retained earnings have become further negative. This has decreased the total equity of the company which can harm the company's growth.
  • The company's current ratio has decreased due to the total current liabilities increasing massively as a result of the large increase in deposits from customers and payables on account of BC business. This is expected to unfavorably affect the short term liquidity of the company.

Fino Paytech Opportunities

  • The company deals in enrollment solutions which helps them to capture the micro consumers. According to a findex report, there is approximately 190 million unbanked population in India living in rural settlements with no means or access to banking which can still be captured. The company needs to work on newer and more innovative methods to provide access to banking in such uncaptured markets

Fino Paytech Threats

  • Even though the company is an innovator in technology solutions, lately they have not come up with new products or services which might harm their business in the long run.
  • The company is mainly focusing on their retail segment which includes sales of cards and devices, due to which other segments like enrollment and operations solutions are not able to grow. This lack of diversification is may hinder company's growth.
  • The competitors of the company also pose a major threat to the business.
Fino Paytech Rating



  • Fino Paytech Detail Info

Industry Statistics


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