Banfico, a London-headquartered fintech startup, today announced the expansion of its operations with a new office in Peelamedu, Coimbatore. The growth-stage bootstrapped company, which serves over 200 banks across Europe, the Americas, and the Middle East, marked the occasion with prominent political leaders in attendance.

S.P.Velumani,former minister and current Member of the Tamil Nadu Legislative Assembly, was the chief guests at the inauguration ceremony. The event was also attended by Amman Arjunan and K.R.Jayaram, both Members of the Tamilnadu Legislative Assembly and Karthikeyan Appusamy, Union Secretary of the AIADMK.Kannan Rasappan, Global CEO, and D.Selvambikai, Senior Director of Banfico, hosted the ceremony and welcomed the guests.

Speaking at the event, S.P.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.S.P.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.