RNFI Services Limited

About RNFI Services Limited

Incorporated in 2015, RNFI Services Limited is a technology-enabled platform offering a range of financial technology solutions in the B2B and B2B2C sectors, leveraging a robust integrated business model through their online portal and mobile application. Their core focus lies in providing comprehensive banking, digital, and Government to Citizen (G2C) services nationwide. They have segregated their business into four key segments— business correspondent service, non-business correspondent services, full-fledged money changer services through RNFI Money Private Limited, and insurance broking via Reliassure Insurance Brokers Private Limited. 

RNFI Services Limited have been dedicated to empowering rural India with accessible financial technology solutions, contributing to the vision of a DIGITAL BHARAT. Their extensive network spans over 3.60 lakh network partners, delivering a range of tech-enabled services including Domestic Money Transfer (DMT), Aadhaar Enabled Payment System (AePS), Micro ATM services, and more. They process over 115 lakh monthly transactions and operate in 28 states, 5 Union territories, and over 17,964 pin codes, underscoring their significant presence and impact.

At RNFI, they integrate "phygital" strategies seamlessly, combining physical and digital functionalities to enhance service delivery. Through subsidiary Paypsrint Private Limited, they provide cutting-edge API infrastructure that consolidates digital banking ecosystems, revolutionizing transaction processes for improved customer adoption and satisfaction. Their non-business correspondent services encompass a diverse array of utilities, travel-related services, BBPS, PAN card services, G2C services, and more, catering to the varied needs of their network partners. This holistic approach, coupled with their expansive distribution channels and robust technology framework, positions RNFI Services Limited as a leader in the competitive landscape of financial technology solutions in India. Their comprehensive network, combined with advanced technology solutions, positions them uniquely in the competitive landscape of payments, remittance solutions, utility payments, and travel services.

As RNFI Services Limited prepares for its Initial Public Offering (IPO), the proceeds from the Fresh Issue will be allocated towards critical objectives:

1. Funding the working capital requirements of the Company 
2. Funding Capital expenditure requirements for the Purchase of Micro ATMs/laptops/Server 
3. Strengthening our technology infrastructure to develop new capabilities 
4. Achieving inorganic growth through unidentified acquisitions and other strategic initiatives 
5. General Corporate Purposes