The Veefin Group of Companies, a leading technology partner for banks, financial institutions, and corporates in providing working capital solutions, has successfully completed an Rs 136 crore (~16 million USD) funding round. The fund, raised from capital market investors, will be primarily focused on fostering growth, scaling its products, and expanding its footprint.The Group also announced that it is set to raise a further Rs 155 crore (~18 million USD) in its next funding round in FY25. This round will be a catalyst to fast-track the growth of Veefin`s innovative product portfolio, positioning the company as the working capital technology platform of choice, and a trusted partner for clients. It will also drive faster business expansion across its recently acquired companies: Regime Tax Solutions (Tax Genie), Epikinidifi (ezee.ai), Nityo Infotech (India arm), & Singapore-based Walnut.AI. Powered by Capital Market - Live News

Veefin Solutions has through its subsidiary Estorifi Solutions acquired 50% stake consisting of 27,778 equity shares of SGD 9.54 each of Walnut AI on 05 November 2024.Walnut is a Private Limited Company incorporated in Singapore on 02 February 2020. It is primarily involved in the business of Information technology and other information service activitiesPowered by Capital Market - Live News

Veefin Solutions will hold a meeting of the Board of Directors of the Company on 28 October 2024.Powered by Capital Market - Live News

The Veefin Group of Companies has announced its third acquisition in end-to-end digital lending platform EpikIndifi, in a cash and equity swap deal valued at around Rs 125 crore. Veefin Group has been on a major corporate expansion exercise in FY 24-25 to transform into an end-to-end Working Capital Finance Platform. The acquisitions of the three companies are at a total valuation of Rs 400 crore. The total expected outlay of the first tranche of all three acquisitions in the last three months is Rs 215 crore (through cash and equity). The global SME financing gap is pegged at $14Tn. Along with the existing group companies, the latest acquisitions have powered Veefin Group to address every aspect of optimising working capital, by offering solutions across end-to end digital Supply Chain Finance, Digital Identity Verification & Automated Financial Statement Analysis, Trade Securitisation, Transaction Banking, Automated Accounts Receivable (AR) & Accounts Payable (AP) and Software Consulting and Services. Veefin Group has achieved an annual disbursement worth $25Bn on its platform. Earlier in June, Veefin Group acquired Regime Tax Solutions (known popularly for its products TaxGenie & PayInvoice), and in August the company announced the acquisition of the Indian arm of global technology firm Nityo Infotech. The inorganic growth opportunities are estimated to increase the Veefin Group`s clientele of banking, financial institutions and corporate clients manifold - from 55 in the last financial year to over 500 by the end of this financial year. Powered by Capital Market - Live News

Veefin Solutions announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2024.Powered by Capital Market - Live News