Veefin Solutions Limited (BSE: 543931) has announced a significant step in its international expansion strategy by establishing a regional base in Nigeria. This move positions the company to strengthen its presence in the African market and scale its technology solutions across the continent.

Strategic Expansion

Veefin Solutions, known for its expertise in the Banking, Financial Services, and Insurance (BFSI) sector, aims to use Nigeria as its operational hub for Africa. This strategic decision is expected to enable more effective business development and client engagement in key African markets.

Leveraging Expertise and Partnerships

The company plans to capitalize on its deep knowledge of the BFSI sector and its extensive partner ecosystem to drive growth in the region. By establishing an on-ground presence, Veefin Solutions is poised to:

• Strengthen regional operations
• Enhance proximity to leading financial institutions
• Improve execution of growth initiatives in Africa

Meeting Emerging Market Demands

This expansion aligns with Veefin Solutions' global vision of building world-class digital lending infrastructure. The company aims to address the increasing demand for technology-driven financial services in emerging markets, particularly in Africa.

Official Announcement

In an official communication to the BSE Limited, Urja Thakkar, Company Secretary & Compliance Officer of Veefin Solutions Limited, stated:

"Veefin Solutions Limited is pleased to announce the establishment of its regional base in Nigeria, marking a major milestone in its strategic international expansion."

Looking Ahead

As Veefin Solutions sets foot in Nigeria, the move is expected to accelerate its international growth trajectory. The company's focus on scaling its technology solutions across African markets could potentially open up new opportunities in the rapidly evolving fintech landscape of the continent.

This expansion underscores Veefin Solutions' commitment to global growth and its recognition of Africa as a key market for its technology-driven financial services. As the company establishes its presence in Nigeria, stakeholders will be watching closely to see how this strategic move unfolds and impacts Veefin Solutions' future in the African market.

Veefin Solutions Limited has announced its financial results for the fourth quarter of fiscal year 2023, showcasing remarkable year-over-year growth in both revenue and profitability.

Strong Financial Performance

The company reported a significant increase in revenue for Q4 FY2023, with figures soaring to ₹595.00 crore, up from ₹159.00 crore in the same quarter of the previous year. This represents a substantial year-over-year growth of approximately 274%.

Veefin Solutions also demonstrated robust bottom-line performance, with consolidated net profit rising to ₹99.00 crore, compared to ₹64.00 crore in the corresponding quarter of the previous fiscal year. This marks a notable increase of about 55% in net profit.

Key Financial Highlights

Board Meeting and Audited Results

In a recent development, Veefin Solutions' Board of Directors convened on April 28, 2025, to review and approve the audited financial results for the fiscal year ending March 31, 2025. The meeting, which commenced at 12:30 PM and concluded at 2:35 PM, resulted in the approval of both standalone and consolidated financial statements for FY2025.

The company's statutory auditors, ADV & Associates, have issued audit reports with an unmodified opinion on the financial statements, indicating a clean audit for the fiscal year.

Conclusion

Veefin Solutions, formerly known as Veefin Solutions Private Limited, continues to demonstrate strong financial performance and growth. The company's ability to significantly increase its revenue while also improving profitability showcases its effective business strategies and market positioning.

As Veefin Solutions moves forward, investors and market watchers will likely keep a close eye on the company's continued growth trajectory and financial performance in the coming quarters.