In a cash-and-share transfer transaction, Veefin, a fintech firm, has acquired a 26% stake in EpikIndifi, a software solution provider. EpikIndifi’s valuation increased to Rs 125 crore as a result of this transaction.
This is Veefin’s third acquisition this year, following its acquisitions of Regime Tax Solutions (which operates TaxGenie and PayInvoice) and Nityo Infotech.
Veefin stated that the acquisition will enable the group to add new revenue streams through digital retail lending, which will encompass personal loans, green loans, buy-now-pay-later (BNPL) schemes, credit cards, mortgage loans, and SMEs loans. This will be in addition to the group’s existing strength in working capital solutions.
Veefin intends to invest Rs 25 crore in EpikIndifi over the next two to three years and increase its ownership of the company in order to consummate the acquisition.
EpikIndifi provides a variety of solutions to assist financial institutions and banks in enhancing their operations. The loan origination platform of the company is designed to optimize efficiency, transparency, profitability, and regulatory compliance by streamlining all consumer and employee interactions within a cloud-based system. It is claimed to provide speed, convenience, and efficiency.
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Veefin offers white-labeled supply chain finance technology and SaaS pricing-based supply chain financing solutions to financial institutions, fintech, B2B marketplaces, and corporates worldwide. It provides a comprehensive platform that incorporates transaction management services, credit underwriting, and anchor, vendor, and dealer enrollment for the most extensive selection of SCF products.
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