RNFI Services Partners with InCorp Advisory to Acquire Payworld Services

MUMBAI, India , April 17, 2025 /PRNewswire/ -- In a significant strategic collaboration, RNFI Services Ltd (NSE:RNFI) has partnered with InCorp Advisory, a leading investment banking and corporate advisory firm, to acquire Payworld Digital Services Private Limited and its wholly owned subsidiary, Smart Payment Solutions Private Limited. This partnership enabled the end-to-end execution of the transaction, marking a pivotal moment in RNFI's expansion journey within India's dynamic fintech landscape.

Under the agreement, RNFI Services will acquire 100% of Payworld's equity, totalling 1,21,10,000 shares, subject to regulatory approvals. The acquisition strengthens RNFI's commitment to broadening its digital financial services and expanding its footprint in underserved markets across the country.

InCorp Advisory served as the exclusive financial advisor for the deal, providing strategic guidance and transaction support to ensure a seamless and value-driven integration.

Krishna Kumar Daga, Chief Executive Officer of RNFI Services Limited, said, "As we continue to scale and diversify our fintech offerings, partnering with InCorp Advisory for this acquisition was a natural choice. Their industry insight and executional precision were instrumental in navigating this complex transaction. This integration positions us to deliver stronger, more inclusive financial solutions to millions—especially in last-mile geographies. We're not just acquiring a company; we're expanding an ecosystem."

Inderpreet Singh Chadha, Head of Investment Banking at InCorp Advisory, commented, "This acquisition is a defining moment in India's fintech growth story. By bringing together RNFI's technology-first approach with Payworld's wide-reaching distribution network, we're unlocking new opportunities for market innovation and scale. We're proud to have facilitated this strategic partnership and look forward to its ripple effect across the financial services sector."

This collaboration reflects the growing importance of curated advisory relationships in powering ambitious fintech plays and shaping the future of digital finance in India.

About RNFI Services

Founded in 2015, RNFI Group is a leading fintech conglomerate headquartered in New Delhi, India. The company delivers a wide array of services including business correspondent solutions, digital payments, utility bill settlements, insurance broking, loan collections, and travel bookings. RNFI's extensive network, spanning urban to remote rural areas, is committed to driving financial inclusion and simplifying access to essential financial tools.

About InCorp Advisory

InCorp Advisory is a leading investment banking and corporate advisory firm offering tailored financial and strategic services. With a footprint across multiple countries, InCorp specializes in M&A advisory, taxation, risk assurance, and business consulting—enabling clients to navigate complex business environments and achieve sustainable growth.

About Payworld

Established in 2004, Payworld is a trusted fintech provider with a retailer network of over 10,00,000 touchpoints across India. It offers a broad suite of digital financial services including AEPS, money transfers, utility payments, insurance, and assisted e-commerce, facilitating over 40 million transactions annually.

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