CHENNAI: Chief Minister MK Stalin on Monday inaugurated the `249-crore FinTech Tower at Nandambakkam stepping up the state’s push to position itself as a hub for digital finance as fintech becomes central to India’s payments, lending and wealth-management ecosystem.
The TIDCO facility, spread over 5.56 lakh sq ft, is the first major asset to be delivered under the state’s planned 56-acre FinTech City project, whose foundation stone was laid in June 2023.
Built on 2.26 acres, the building comprises two basements, a ground floor and 11 upper floors, and has been designed with infrastructure tailored for financial services companies.
The project aims to create high-skill jobs and attract fintech firms looking to scale outside traditional centres such as Bengaluru and Mumbai.
At the inauguration, office space allotment orders were issued to three firms — Prime Forex Pvt. Ltd., Simptra Technologies Pvt. Ltd. and MidFin Wealth Pvt. Ltd., marking the start of commercial occupancy.
More allotments are expected as the government pitches the tower to fintech, NBFC and broader financial services firms. The state has increasingly positioned fintech as a strategic sector, seeking to leverage Tamil Nadu’s strengths in IT services, data centres and back-office financial operations.
The focus is on moving up the value chain-from transaction processing to product development in areas such as digital payments, embedded finance, forex platforms and wealth technology.
“This is how you build sectoral depth — by creating high-quality infrastructure that attracts global capability centres, fintech innovators and high-value service firms,” Industries Minister TRB Rajaa said.