Update: Blackstone has formally announced that it has invested Rs 150 crore ($33 million) in FINO for a significant minority stake. FINO inteds to utilize the funding towards the overall growth of the company and to meet long term capital requirements (by Saptarishi Datta and Nikhil Pahwa) Earlier: Private equity fund Blackstone is set to pick up around 20% equity in FINO for around Rs 140 crore, reports The Times Of India; no source is mentioned for this information, but there does appear to be renewed interest in payment aggregation related services after a lull for a couple of years: - Earlier this year, Uttar Pradesh Forest Corporation (UPFC) had tied up with FINO to launch a Smart Card based collection and payment disbursal system for the tendu leaf collectors of Lalitpur, Uttar Pradesh. - Paymate is powering IFMR Rural Finance's services, as…
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