- Business
- Vakrangee Limited, a technology-driven company founded in 1990 and headquartered in Mumbai, India, operates one of India's largest franchisee-based networks of last-mile retail outlets known as Nextgen Vakrangee Kendras, which serve as one-stop assisted digital convenience stores delivering banking, financial services and insurance (BFSI), white-label automated teller machine (ATM) services, e-commerce, logistics, online shopping, healthcare, travel, telecom and bill payments, and government e-governance solutions including Aadhaar enrollment, passports, and direct benefit transfers to rural, semi-urban, and urban populations across all states and union territories. The company provides comprehensive banking services such as account opening, cash deposits and withdrawals, money transfers, fixed and recurring deposits, loans, DEMAT accounts, PAN cards, and CIBIL checks as a business correspondent for banks including Bank of Baroda, Central Bank of India, Canara Bank, UCO Bank, and others; insurance products encompassing life, health, motor, general, micro-insurance, and social security schemes through corporate agency partnerships with Aditya Birla Health Insurance, Ageas Federal Life Insurance, Tata AIG, Star Health, Shriram General and Life Insurance, SBI General, Universal Sompo, and Future Generali; white-label ATMs licensed by the Reserve Bank of India; assisted e-commerce via platforms like Amazon for apparel, private-label and white-label consumer goods, smartphones, OTT services with Global One Enterprises (MAX TV), refurbished devices, ayurvedic products, sports equipment from Decathlon, and cement lead generation for JK Cement; logistics including courier pick-up and delivery with Blue Dart and others; and additional services like online healthcare, ticketing, utility payments, PAN issuance with Protean, and P2P lending with LenDenClub. Vakrangee maintains an asset-light model with over 22,986 Kendras and master franchisees covering 535 districts in 31 states aiming for 100% district coverage by March 2026, alongside a "VISION 2030" targeting more than 300,000 outlets, 15,000 ATMs, US$1 billion revenue, and US$150 billion gross transaction value; recent developments include acquiring 67% equity in Vortex Engineering Private Limited in 2024 for ATM manufacturing with a 2025 order for 600 machines from Punjab & Sind Bank, expanding UPI-based ATMs by 3,000 in FY2025-26, entering apparel and private-label retail in 2024, renewing RBI ATM authorization in 2025, launching Q2 FY2025-26 results with strong gross transaction value growth, partnering with Muthoot Fincorp and SBI General Insurance, appointing Divya Nandwana as Executive Chairman following the 2025 passing of founder Dinesh Nandwana as Chairman Emeritus, and reporting FY2024-25 consolidated revenue of Rs.255 crore up 20% with net profit rising 53% to Rs.6.66 crore.