- Business
- Vakrangee Limited, a technology-driven company incorporated in 1990 and headquartered in Mumbai, India, operates India's largest franchisee-based network of Nextgen Vakrangee Kendras, functioning as one-stop assisted digital convenience stores that deliver banking, financial services and insurance (BFSI), white-label automated teller machine (ATM) services, e-commerce, logistics, e-governance, assisted online shopping, healthcare, travel, telecom and bill payments, and other essential services to unserved and underserved rural, semi-urban and urban populations across the country. Core products and services encompass banking correspondent services for scheduled commercial banks including accounts opening, deposits, withdrawals, remittances and loans under schemes such as Pradhan Mantri Jan Dhan Yojana; insurance agency for life, health and general policies from partners like Aditya Birla Health Insurance, Star Health, Shriram Life and General, SBI General, Ageas Federal Life, Universal Sompo and Tata AIG; white-label ATMs with over 6,000 installations, predominantly in tier 4-6 locations, enabling cardless UPI-based cash withdrawals; assisted e-commerce via platforms including Amazon, Decathlon sports equipment and Vivo smartphones; logistics through tie-ups with Blue Dart and Aramex; e-governance solutions for Aadhaar enrollment, voter IDs, passports, NREGA job cards and direct benefit transfers; financial services such as demat account openings with Angel One and Upstox, peer-to-peer lending with LenDenClub, PAN card issuance with Protean and tax services with Tax2Win; and additional offerings like OTT subscriptions with MAX TV and ZEE5, agri services, travel bookings with TSI Yatra and electric vehicle charging infrastructure. The company targets rural and semi-urban India, with 81% of its over 22,000 outlets in tier 4-6 areas, empowering local franchisees and driving financial, digital and social inclusion through an asset-light model supported by robust technology platforms. Recent developments include acquiring a combined 67% equity stake in Vortex Engineering Private Limited in 2024 from Tata Capital Innovations Fund (18.5%) and Aaviskaar India Investors (48.5%) for backward integration in ATM technology; announcing plans to deploy 3,000 additional UPI-enabled ATMs by FY2026 to reach 15,000+ units; forging new partnerships such as with SBI General Insurance, Muthoot Fincorp, Shriram General Insurance, Ageas Federal Life, Universal Sompo and Bank of Baroda for expanded banking and insurance distribution; renewing ATM authorizations from the Reserve Bank of India and banking correspondent agreements with UCO Bank, Canara Bank and Central Bank of India; reporting Q2 FY2025-26 results with consolidated net sales of Rs 69.08 crore; and noting the passing of founder and Chairman Emeritus Dinesh Nandwana in early 2025, with leadership transition to Vedant Nandwana as Managing Director.