Veefin Solutions Ltd

Veefin Solutions will hold a meeting of the Board of Directors of the Company on 28 April 2025.Powered by Capital Market - Live

 In a significant step towards transforming MSME financing in India, four leading public sector banks Bank of Baroda, Central Bank of India, Indian Overseas Bank, and UCO Bank have signed up for the world's largest unified Supply Chain Finance (SCF) platform, PSBXchange by PSB Alliance, developed and powered by Veefin Solutions. This collaboration marks a critical milestone in enabling broader financial inclusion for MSMEs in the country. This platform is on track to become the common technology bridge for all banks and NBFCs in the country to source and provide supply chain finance and small business loans. This unified platform is a global-first that will connect Fintechs, B2B marketplaces, Accounting Service Providers, new-age data providers with the core banking system of multiple lenders. As India's MSMEs form the backbone of its economy, this collaboration between the PSB Alliance and Veefin will play a pivotal role in supporting their financial needs, ensuring they are not left behind in the digital transformation of credit delivery. Powered by Capital Market - Live

Select Africa, a leading financial institution based in South Africa, has partnered with Veefin Solutions to drive its digital transformation across multiple countries in South and East Africa. This strategic collaboration marks a significant milestone in Select Africa's commitment to focusing on the unbanked segment and enabling easier access to financial services. Through this partnership, Select Africa will utilize Veefin Solutions' end-to-end stack, including Onboarding, Loan Origination System, Loan Management System, Reporting Solution, and Collections Management System, to streamline its lending operations, deliver digital-first customer experiences, and foster innovation across its financial product offerings. The multi-country rollout of Veefin's Digital Lending Suite will also enable Select Africa to expand its market presence into new geographies, drive technology-led financial inclusion, and cater to a segment often neglected by the formal banking industry. As digital transformation becomes a key driver of financial services, this partnership reaffirms Select Africa's vision of being a future-ready financial institution.Powered by Capital Market - Live

Founded in 1975, Invest Bank PSC is a prominent public shareholding company based in Sharjah, UAE. With over four decades of substantial presence, the bank has cemented its reputation as a trusted provider within the UAE's competitive banking sector, dedicated to delivering top-tier financial services. According to the agreement, Invest Bank will leverage Veefin's advanced SCF Loan Management System platform allowing them to streamline financing, eliminating time-consuming manual workflows and significantly improving operational efficiency. With this full-scale digital transformation, Invest Bank aims to provide businesses with instant access to working capital, reduced paperwork& manual intervention, and improved turnaround times. Gautam Udani, co-founder and COO at Veefin Solutions, said: We are glad to support Invest Bank in its mission to digitize Supply Chain Finance. Our platform will help replace legacy manual systems with an intuitive, fully automated digital solution, ensuring faster approvals, better transparency, and a superior user experience for businesses seeking financing.' Veefin Group addresses every aspect of optimising working capital, by offering solutions across end-to end digital supply chain finance, digital identity verification and automated financial statement analysis, debt securitization, cash management, trade finance, automated accounts receivable (AR) & accounts payable (AP) and software consulting and services by deploying innovative, agile & scalable technology. Powered by Capital Market - Live

Veefin Solutions through its subsidiary Infini Systems proposes to acquire up to 49% consisting of 4,900 equity shares of White Rivers Media Solutions for Rs 166.6 crore on 10 February 2025. White Rivers Media is engaged in the business of digital marketing and advertising solutions. Powered by Capital Market - Live

White Rivers Media Solutions is primarily involved in the business of digital marketing and advertising solutions. It had recorded a turnover of Rs 113.85 crore as on 31 March 2025. Offering the rationale for the said acquisition, the company stated that it will help the company to increase revenue and efficiency by consolidating client relationships. Raja Debnath, chairperson, co-founder and CEO, Veefin Group, said: At Veefin Group, we have built a strong ecosystem that empowers businesses with cutting-edge financial technology and digital transformation solutions. Through this strategic investment, we are enhancing our ecosystem with deep MarTech expertise, creative digital marketing solutions, and a proven track record of success. This partnership enables us to offer clients a more integrated approach'combining technology with AI-led, data-driven marketing to drive engagement and business growth. Together, we are unlocking new possibilities for businesses to scale faster and compete smarter in a digital-first world. Veefin Group addresses every aspect of optimising working capital, by offering solutions across end-to end digital supply chain finance, digital identity verification and automated financial statement analysis, debt securitization, cash management, trade finance, automated accounts receivable (AR) & accounts payable (AP) and software consulting and services by deploying innovative, agile & scalable technology. The scrip slipped 3.75% to currently trade at Rs 505 on the BSE. Powered by Capital Market - Live

Veefin Solutions has allotted 1,60,000 equity shares under ESOP on 21 January 2025. Consequent to this allotment, the paid-up share capital of the Company stands increased from 2,36,13,407 equity shares of Rs.10/- each amounting to Rs. 23,61,34,070 to 2,37,73,407 equity shares of Rs.10/- each amounting to Rs. 23,77,34,070/-. Powered by Capital Market - Live

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

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

'This also marks the fourth acquisition by Veefin Group this year as the company propels itself to become the leading Global Working Capital Finance Platform,' Veefin Solutions said in a statement. The four-year-old startup uses the latest technologies in artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) to deploy solutions, primarily in the financial services sector (Credit, risk, KYC and capital market operations areas). Using in-house and offline ML models, Walnut has developed its transformative GenAI solution to expedite info extraction from lengthy documents. The company's marquee product 'Vegaspread' simplifies complex financial data into actionable insights. It extracts critical information from multi-format, multi-layout, and lengthy reports such as Annual Financial Reports (AFS) including reading the Notes to Accounts within minutes and delivers the insights for accurate processing by decision makers. The company which counts DBS, Bank of Singapore, Amret, and RCBC among its clients, will get a vast canvas to deploy its GenAI solutions across the Veefin Group's 500+ clients across banking, financial institutions, and corporate. With the acquisition, Walnut's GenAI capabilities will help Veefin Group power its clients across corporates and banking to convert complex and vast amounts of unstructured data into razor-sharp insights delivered with speed and accuracy. The product offering will greatly benefit in credit decisioning as Veefin Group builds tech-first solutions for working capital management. Walnut will continue to operate independently, post-acquisition. The acquisition comes at a time when the race for GenAI capabilities heats up in India and globally. India's GenAI market itself, which was estimated at $1.1 Bn in 2023, is expected to grow at a CAGR of 48% to reach $17 Bn by 2030, as per industry reports. Raja Debnath, Chairman & Co-Founder of the Veefin Group of Companies, said 'We continue to grow the Veefin Group by bringing in more and more companies into the Veefin ecosystem to leverage the massive client base that the entire group now commands. To this effect, GenAI is a must-have capability for the group. Walnut thus fits in very well into the Veefin ecosystem.' Earlier this year, Veefin Group has acquired three technology companies to build its heft in working capital management technology. Veefin Group addresses every aspect of optimising working capital, by offering solutions across end-to end digital supply chain finance, digital identity verification and automated financial statement analysis, debt securitization, cash management, trade finance, automated accounts receivable (AR) & accounts payable (AP) and software consulting and services by deploying innovative, agile & scalable technology. Powered by Capital Market - Live