Financial Information Network and Operations Ltd. (FINO), a Mumbai-based biometric enabled smart card solutions provider which is engaged primarily in providing financial and non-financial products and services to the unbanked masses nationally and internationally, today announced the closing of an equity financing round of Rs. 800 million. The investors are broadly divided between private sector banks, public sector banks and international investors. Private sector equity investors include ICIC Bank, ICICI Lombard and IFMR Trust. Public Sector equity investors include LIC, Union Bank of India, Corporation Bank and Indian Bank. International investors are represented by IFC, a private sector arm of the World Bank Group, Legatum Finance, and Intel Capital, the strategic investment arm of Intel Corporation. FINO intends to use the proceeds from the financing to set up the entire end-to-end solution of doing financial transaction at clients’ doorsteps. […]