FND 7.24% $2.82 findi limited

It is a good point and I also had same experience when trying to...

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    It is a good point and I also had same experience when trying to look up Findipay outlets as well. In the end I couldn't find any either, but my assumption is when you look at the type of store in the reports and on the promo videos they're not the type of place you would find on Google Maps. The only outlet I could identify from a promo video seemingly in a suburb of Delhi (Bhalswa dairy) rather than a rural area. Doing a quick look on Google Maps it's not covering the businesses there very well.

    When I first invested in Vortiv/Findi I was very sceptical as well and one thought/concern was this is all a giant scam, noting financials and valuations seemed too good to be true and it was a giant scam, noting this is the ASX. However, at the time the fact that directors were heavily invested but weren't crazily remunerated, decades of audited statements and reputable clients like SBI, and the explanation when I called up for the low valuation all made me satisfy my concerns at the time. Since then Piramal have invested and there is more scrutiny on the company plus they are seeking RBI license, and given RBI isn't like say ASIC and can/does impose devastating penalties on its regulated entities, it's fair on balance to assume Findipay is legit.

    I've actually never tried to value the Findipay business as it's a small proportion of revenue and I suspect loss making or break even, and we'll probably not get a good picture of key financial metrics for several years as it's rapidly growing and will evolve when/if we get WL. I am somewhat sceptical of the Findipay business as given the situation with PayTM I do doubt Findi will find it easy to get the license necessary for a digital wallet (a different license to WL), and that's something the promo videos link to Findipay. That being said I'm invested only because of the ATM business as that's the type of business I like (easy to understand), but respect a lot of people prefer tech and are more here for that.
 
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