Veefin Solutions up over 2% after 3 recent acquisitions; check details

The company stated that the total expected outlay of the first tranche in the acquisitions is approximately ₹215 crore which will be done through cash and equity swap. The company’s acquisition of EpikIndifi will help the company grow its clientele from 55 to over 500 by the end of FY25.

Veefin Group’s spree of acquisitions will help the company comprehensively approach the process of optimising working capital. The company will be able to foray and strengthen its positions in supply chain finance, digital identity verification and automated financial statement analysis, trade securitisation, transaction banking, and other areas.

In June, the company acquired Regime Tax Solutions, which is the parent company of products like TaxGenie & PayInvoice.

Raja Debnath, chairman and co-founder of the Veefin Group of Companies, said that the appetite and scope for digital transformation from banks, financial institutions, and corporates will help the company grow. The company is now not only offering solutions to fill the gap in supply chain finance but also all aspects of working capital.

“The gap in supply chain finance in India alone is pegged at INR 20-25 Tn. Over the last few years, we have been at the forefront of deploying the best of innovation at scale in digital supply chain finance. We are now aggressively expanding to offer solutions across the entire universe of working capital,” he said.

Shares of the company have risen by nearly 200% since the beginning of the year. The stock has gained over 214% in the past year.