Sphere for Good (“Sphere”), a leading innovator in integrating climate and loyalty actions into financial transactions, today announced that it has entered into an agreement to be acquired by Findi Group [ASX: FND], a rapidly growing fintech and payments company with a significant presence in the high-growth Indian market. 

The acquisition is structured as an all-share deal and is subject to several conditions typical for a transaction of this nature. The transaction  will enable Sphere to significantly expand its reach and impact, leveraging Findi's resources, expertise, and established presence in key markets.  Post transaction synergies include targeting Findi’s:

- Expansive brown label/white label banking customers to provide CO2 solutions; and

- 125,000+ merchant base with a market-leading loyalty and rewards capability. 

Strategic Alignment for Accelerated Growth

This acquisition represents a significant milestone for Sphere for Good, positioning the company for its next phase of growth. By joining the Findi Group, Sphere for Good will benefit from:

Expanded market access: Findi's strong foothold in the Indian market, with a population exceeding 1.5 billion, offers unparalleled opportunities to deploy

Synergistic solutions: Integration with Findi's existing fintech ecosystem will enable the creation of innovative, integrated solutions that drive both climate action and financial value for clients.

Resource amplification: Access to Findi's resources, including technology, infrastructure, and talent, will accelerate the development and deployment of

Independent opportunities: Alongside these synergies. 

Leadership continuity and shared vision

Following the acquisition, Sphere for Good will operate as a subsidiary of Findi Group, with current CEO Shaun Lordan continuing in his role as CEO and Director, ensuring continuity of leadership and vision. In addition, Stephen Benton, Independent Chairman, and Tineyi Matanda, Non-Executive Director, will join the Findi board (subject to finalising terms), further aligning the strategic direction of both companies. 

"We are thrilled to join the Findi Group and embark on this exciting new chapter," said Shaun Lordan, CEO of Sphere for Good. "This acquisition validates our vision of integrating climate action into every transaction and provides us with the resources and platform to reach millions more customers. Together with Findi, we will accelerate our mission to create a more sustainable future with commercial outcomes at the core." 

Shared synergies drive enhanced value

The combination of Sphere for Good and Findi Group is expected to generate significant cost and revenue synergies, including:

Cross-selling opportunities: Leveraging Findi's existing client base to expand the adoption of Technology integration:

Integrating Operational efficiencies: 

Streamlining operations and reducing costs through shared resources and infrastructure.

Findi says that they will deploy Sphere for Good solutions across FindiPay, BankIT merchants, BC Max Centres and WLA business, enabling carbon-linked rewards, micro-donations, and pay-with-points capabilities. 

The acquisition will accelerate Findi’s cross sell opportunities, create incremental transaction-based revenues and strengthen Findi’s ESG and loyalty credentials ahead of its planned Indian IPO.

Sphere for Good is an API platform that powers carbon features, loyalty/rewards and directed funding, deployable across banks, payment gateways, merchants and beyond. Sphere's mission is to bring climate action to every transaction, maximising positive outcomes for clients and the planet.

More information can be found at https://sphereforgood.com/.