Banfico announces expansion with new branch in Coimbatore

Banfico, a London-based fintech startup, has announced its expansion with the opening of a new office in Peelamedu, Coimbatore. 
The inauguration ceremony, held today, was graced by SP Velumani, former minister and Tamil Nadu MLA, as the chief guest, alongside MLAs Amman Arjunan and KR Jayaram, and AIADMK Union Secretary Karthikeyan Appusamy.
Kannan Rasappan, Global CEO of Banfico, and D Selvambikai, Senior Director, hosted the event, welcoming dignitaries and industry leaders. Speaking at the occasion, SP Velumani highlighted Banfico’s innovative Open Banking solutions, comparing them to India’s UPI system, and praised the company’s impressive growth from its London roots to serving over 200 banks globally. 
He also lauded Coimbatore’s entrepreneurial spirit and its rise as an emerging IT hub, driven by quality education and strong cultural values.
Kannan Rasappan revealed that the new office will play a pivotal role in Banfico’s expansion plans through 2025. Currently employing 50 professionals in Coimbatore, the company plans to strengthen its workforce through campus recruitment at local colleges and hiring experienced professionals. “We are proud to deliver cutting-edge fintech solutions from Coimbatore to global markets,” he stated.