Veefin Acquires Singapore's GenAI Startup Walnut

In an all-cash transaction, listed fintech firm Veefin Solutions acquired a 50% share in Singapore-based GenAI startup Walnut, its first foreign acquisition.

With this acquisition, Veefin Group will be able to assist corporate and financial clients in efficiently and precisely converting vast amounts of unstructured data into meaningful insights, the company stated. 

Read also - Marut Drones Raises $6.2M in Series A Funding

With customers like DBS and Bank of Singapore, Walnut plans to extend its GenAI solutions to the more than 500 banking, economic, and corporate clients of Veefin Group.

In a share swap arrangement last month, it paid INR 125 Cr for a 26% stake in EpikInDiFi in the latter company.

About Walnut.ai

The Singapore-based Walnut.ai, a solution-focused startup founded in 2020 by Bala Iyer and Lalit Kumar, leverages AI and machine learning to influence and change the future of companies all around the world.

About Veefin

Veefin was founded in 2020 and offers a comprehensive suite of products to streamline the onboarding, multi-facility underwriting, and SCF loan management processes.

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.