BTI Payments gets Rs 150 crore fund from promoters

White label ATM firm BTI Payments Private Ltd on Thursday said it has received a fresh round of capital infusion of Rs 150 crore, driven by the existing promoter The Banktech Group and India Advantage Fund Series 4 managed by ICICI Venture.

The company plans to utilise the fresh equity capitals to expand its white label ATM (WLA) base to 10,000 by March 2021 from about 5,100 ATMs at present across 15 states.

"We have built a strong business over the last 5 years by successfully deploying more than 5,100 india1ATMs, serving close to 20 million customers every month. The new capital will help us deepen our rural presence and accelerate our rollouts -- doubling our ATM network over the next 18 months," BTI Payments Chief Executive Officer and Managing Director K Srinivas said in a statement.

BTI Payments run WLA with brand name india1ATM.