Findi (ASX:FND) said that its Indian unit, Transaction Solutions International (India), entered into a binding term sheet with Nova Global Opportunities Fund, which will invest up to 4.18 billion Indian rupees in the unit, subject to due diligence, according to a Monday Australian bourse filing.

The first tranche of 1.5 billion Indian rupees is to be paid on or before Feb. 15 upon the completion and execution of the long-form documentation.

The firm will use the investment to primarily fund the ongoing capital expenditure for the deployment of Brown Label and White Label ATMs, as well as for long-term working capital requirements.