Chennai: startup BANKIT on Tuesday announced that it is looking to tie up with over 1 lakh kirana outlets in FY2022 to strengthen its presence in Telangana and Andhra Pradesh.

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% in the state.

Currently, BANKIT is present in 29 states and boasts of over 17,500 operational outlets in Telangana and Andhra Pradesh which are present in more than 50% villages and towns of both states.

Till now, the company has served 75 lakh+ customers, with 8,600 agents being onboarded between the period April 21 and October 21. They have also deployed 3,800 MicroATMs in the state of Telangana during the last six months while raking in a Gross Transaction Value (GTV) of Rs 11,000 crore alone from Agents in the State. Furthermore, the company envisions registering a projected GTV of Rs 35,000 Crores in Telangana next year.

“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 focusing on enhancing our operations in the states of Telangana and Andhra Pradesh,” Amit Nigam, COO and executive director at BANKIT said in a statement.

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