Banfico, a London-headquartered fintech startup, inaugurated its branch with a new office in Peelamedu, Coimbatore on 21st January 2025.
SP Velumani, Member of the Tamil Nadu Legislative Assembly, graced the event as the Chief Guest and inaugurated by cutting the ribbon in the presence of Kannan Rasappan, CEO, Banfico; KR Jayaram & Amman Arjunan, Members of the Tamil Nadu Legislative Assembly and Karthikeyan Appusamy, Union Secretary of the AIADMK.
Selvambikai, Senior Director of Banfico welcomed the gathering.
Speaking at the event, SP Velumani highlighted the parallels between Banfico’s products and India’s UPI system, noting that the company’s Open Banking solutions represent the latest evolution in banking technology.
He praised the company’s growth from its London origins six years ago to its current status serving major global banks. Velumani emphasized Coimbatore’s legacy of entrepreneurship and its emerging prominence in the IT sector. “Coimbatore’s quality education and cultural values continue to attract major corporations to our city,” he stated.
Kannan Rasappan announced that the new office space will support Banfico’s growth plans through 2025. The company, which currently employs 50 people in Coimbatore, will continue its campus recruitment drives at local colleges while also hiring experienced professionals. “We’re proud to deliver innovative, cutting-edge technology solutions from Coimbatore to our global customers,” said Kannan Rasappan.
Banfico is a growth-stage bootstrapped company that serves over 200 banks across Europe, the Americas, and the Middle East.
Banfico is a fintech startup with offices in London (UK), Frankfurt (Germany), São Paulo (Brazil), Riyadh (Saudi Arabia), Mumbai, and Coimbatore. The company specializes in Open Banking solutions for financial institutions worldwide.
