Veefin Group Acquires Digital Lending Firm EpikIndifi for INR 125 Cr This acquisition marks Veefin's third in just three months, as the company aims to transition from a digital supply chain finance provider to an end-to-end working capital finance platform.
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Digital supply chain finance and lending platform, Veefin Group of Companies (Veefin), has acquired EpikIndifi, a digital lending company, in a cash and equity swap deal valued at approximately INR 125 crore.
This acquisition marks Veefin's third in just three months, as the company aims to transition from a digital supply chain finance provider to an end-to-end working capital finance platform.
Veefin's acquisition spree began in June with Regime Tax Solutions, a GST compliance and accounts automation company, followed by Nityo Infotech's India arm in August. Together, these three deals represent an outlay of INR 215 crore, with the companies' combined valuations reaching around INR 400 crore.
Gautam Udani, Co-Founder and COO of Veefin, shared, "This has been a seminal year for the Veefin Group in building both in-house capabilities as well as leveraging inorganic growth opportunities to expand beyond supply chain finance and offer every single solution under the ambit of working capital finance to our Indian and global customers."
"The latest acquisition consolidates our position as market leaders in the digital lending ecosystem. EpikIndifi's leadership has a rich experience in the lending and retail loan segment," Udani added.
EpikIndifi, founded in 2017, specialises in digital banking solutions with products like Business.ezee, Identity.ezee, Lend.ezee, and Collect.ezee, which focus on intelligent decision-making, process optimization, and operational efficiency for financial institutions.
The company claims to have partnerships with over 55 banks, providing solutions across personal loans, BNPL schemes, mortgage loans, and more. With offices in Chennai, Bangalore, Melbourne, Sydney, and Singapore, EpikIndifi will complement Veefin's expansion into new geographies and services.
Raja Debnath, Chairman and Co-Founder of Veefin, underscored the importance of the acquisition in addressing the credit gap for small and medium businesses, particularly in India's supply chain finance sector, which has a deficit of INR 20-25 trillion. He reiterated Veefin's ambition to become the global leader in working capital finance.
EpikIndifi's CEO and Co-Founder, Rajendra Awasthi, said, "Being part of the Veefin Group of Companies is a formidable opportunity for EpikIndifi to bring a truly differentiated experience for our customers. The company has an incredible suite of solutions that will power banks and financial institutions to bring digital transformation to scale. We are extremely delighted to join hands with them in this mission."
