The company said that these outlets will include local shops like medical stores, recharge shops, grocery shops etc.
It said that over the past few months, the company has seen maximum growth by increasing its business footprint in the state by 50% by managing to expand its hyperlocal delivery capacity.
Currently, Bankit is present in 29 states and boasts of over 17,500 operational outlets in Telangana and Andhra Pradesh which are present in over 50% of villages and towns in both the states.
Till date, the company has served 75 lakh+ customers with 8,600 agents between April 21 and October 21. They have also deployed 3,800 MicroATMs in the state of Telangana during the last six months, increasing the Gross Transaction Value (GTV). 11,000 crore from agents in the state alone. In addition, the company envisions to register an estimated GTV worth Rs 35,000 crore in Telangana next year.
“The last two years have been a real rollercoaster ride for the entire fintech ecosystem. This period has prompted us to re-evaluate our policies and procedures to better deal with post-pandemic unrest. Amit Nigam, COO and Executive Director, Bankit, said in a statement, “Having already built a pan-India presence, we are now focused on scaling up our operations in the states of Telangana and Andhra Pradesh.