Supply Chain Finance Platform Veefin Raises Rs 136 Cr in Funding

The white-labelled services provider Veefin Group of Companies has raised Rs 136 crore (about $16 million) in a funding round.

The company plans to raise an additional ₹155 crore (about $18 million) by January 2025 from capital market investors. These funds will be used for product development, acquisitions, and global expansion. 

The announcement follows Veefin's recent acquisitions, with part of the funds aimed at speeding up growth in its newly acquired businesses.

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About Veefin

Founded in 2020, Veefin creates white-label supply chain finance and digital lending solutions, covering everything from customer onboarding and underwriting to transaction management and collections. Its clients include private banks like IndusInd Bank and Yes Bank, along with 12 public sector banks. Veefin’s platform handles annual disbursements of $30 billion.

Veefin recently acquired Epiklndifi, a banking software solutions company, in a cash-and-equity deal worth ₹125 crore. Earlier in June, it acquired Regime Tax Solutions, a GST compliance and automation platform.

 In August, it purchased 100% of Nityo Tech, an IT services company linked to Nityo Infotech Singapore’s India business. These acquisitions aim to strengthen Veefin's technology and expand its client base globally.

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