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Fintech startup BANKIT aims to rope in 1 lakh kirana stores by FY2022

Thursday, 02 December 2021, 23:18 IST
By Team Startupcity

Fintech startup BANKIT aims to rope in 1 lakh kirana stores by FY2022

To strengthen its presence in Telangana and Andhra Pradesh, fintech startup BANKIT announced that it is looking to tie up with over 1 lakh kirana outlets in FY2022.

The company said these outlets will include local shops such as medical stores, recharge shops, grocery shops, etc.

It said that over the past few months, the company has witnessed maximum growth by managing to expand its hyperlocal delivery potential by increasing its business footprint by 50 per cent in the state.

Currently, BANKIT boasts of over 17,500 operational outlets in Telangana and Andhra Pradesh and is present in 29 states.

With 8,600 agents being onboarded between the period April 21 and October 21, now the company has served 75 lakh+ customers. While ranking in a Gross Transaction Value (GTV) of ₹ 11,000 crores alone from the Agents in the State, they have also deployed 3,800 MicroATMs in the state of Telangana during the last six months. Next year, the company envisions registering a projected GTV of ₹ 35,000 Crores in Telangana.

“The last two years have been a real rollercoaster ride for the entire fintech ecosystem. This period has beckoned us to reevaluate our policies and processes to cope better with the post-pandemic turbulence. Having already carved a PAN-India presence, we are now focussing on enhancing our operations in the states of Telangana and Andhra Pradesh,” Amit Nigam, COO and executive director at BANKIT said in a statement.