Veefin Group of Companies Raised INR 136 Crore to Expand Globally The company has also announced plans to raise an additional INR 155 crore in FY25 to accelerate the growth of its innovative product portfolio among others
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Veefin Group of Companies, which provides working capital solutions for banks, financial institutions, and corporates, has raised INR 136 crore (USD 16 million) in a funding round backed by capital market investors. The funds will be utilized to drive growth, scale the company's product offerings, and expand its presence globally.
Veefin has more than 500 clients, including notable names like DBS Bank, IBM, Jio Finance Limited, ExxonMobil, Yes Bank, PSB Alliance, and Riyad Bank. With an annual disbursement volume of USD 30 billion, the platform ranks among the highest in the industry.
The company has also announced plans to raise an additional INR 155 crore (USD 18 million) in FY25 to accelerate the growth of its innovative product portfolio, further strengthen its position as a working capital technology platform, and support business expansion across its newly acquired companies, including Regime Tax Solutions (Tax Genie), Epikinidifi (ezee.ai), Nityo Infotech's India arm, and Walnut.AI based in Singapore.
Commenting on the development, Gautam Udani, Co-Founder and COO of Veefin Group, highlighted the significance of this milestone and the trust of their investors, emphasizing the company's commitment to delivering cutting-edge digital transformation solutions for its domestic and international clients. "This marks a significant step in the Veefin Group's journey of innovation and growth. The trust and continued support from our investors reflect our proven track record of delivering state-of-the-art transformative solutions for banks, financial institutions and corporates. We will remain steadfast in our commitment to be the most trusted partner for digital transformation for our domestic and global clients," he added.
Also, the latest funding is expected to propel Veefin's growth and enhance its ability to support financial institutions and expand globally.
