Veefin Solutions Secures ₹8.43 Crore Capital Infusion Through Promoter Warrant Conversion
Veefin Solutions Limited has completed a capital infusion of ₹8.43 crore by converting warrants into equity shares. The company allotted 4,20,000 equity shares at ₹267.50 per share to promoters Mr. Raja Debnath and Mr. Gautam Udani. This move aims to support Veefin's global expansion and innovation initiatives. The promoters' stakes have increased slightly, with Mr. Debnath's shareholding rising to 30.68% and Mr. Udani's to 5.68%. The funds will be used for platform innovation, international market expansion, and strategic consolidation efforts.
05Aug 25
Veefin Solutions Approves Consolidation of Subsidiaries to Boost Supply Chain Finance Operations
Veefin Solutions plans to consolidate its subsidiaries, Estorifi Solutions Limited and GlobeTF Solutions Limited, into the parent company. The move, approved by the Board on August 5, 2025, aims to strengthen Veefin's position in supply chain finance. The consolidation is expected to integrate product offerings, expand market presence, create operational synergies, and enhance the company's competitive advantage. The process will involve preparing consolidation documents, obtaining valuations, and seeking regulatory approvals.
30Jul 25
Veefin Solutions Expands to Nigeria, Establishes African Operational Hub
Veefin Solutions Limited has set up a regional base in Nigeria as part of its international expansion strategy. This move aims to strengthen the company's presence in Africa and scale its technology solutions across the continent. Veefin plans to use Nigeria as an operational hub for Africa, focusing on business development and client engagement in key African markets. The company will leverage its BFSI sector expertise and partner ecosystem to drive growth, address emerging market demands for technology-driven financial services, and build digital lending infrastructure in Africa.
Veefin Solutions Limited announced impressive Q4 FY2023 financial results. Revenue surged 274% year-over-year to ₹595.00 crore, up from ₹159.00 crore. Consolidated net profit rose 55% to ₹99.00 crore from ₹64.00 crore. The Board of Directors approved audited financial statements for FY2025 on April 28, 2025, with statutory auditors issuing an unmodified opinion.
02Apr 25
Veefin Solutions Powers Major Indian Banks' Entry into World's Largest SCF Platform
Four prominent Indian public sector banks - Bank of Baroda, Central Bank of India, Indian Overseas Bank, and UCO Bank - have joined the PSBxchange platform, powered by Veefin Solutions. This platform aims to revolutionize MSME financing by connecting banks, NBFCs, Fintechs, and B2B marketplaces. The collaboration is expected to extend credit to a broader base of SMEs across India, potentially accelerating their growth and strengthening the lending process.
01Apr 25
VeeFin Solutions Powers Major PSB Alliance Initiative in Supply Chain Finance
Four major Indian public sector banks - Bank of Baroda, Central Bank of India, Indian Overseas Bank, and UCO Bank - have joined VeeFin Solutions Limited's Supply Chain Finance platform, PSBXchange. This platform aims to connect various financial stakeholders and improve MSME financing in India. The collaboration is expected to enhance financial inclusion for MSMEs and redefine the lending landscape in the country.
19Feb 25
Veefin Solutions Partners with UAE's Invest Bank to Revolutionize Supply Chain Finance
Veefin Solutions Limited has partnered with Invest Bank in the UAE to implement its Supply Chain Finance Loan Management System platform. This collaboration aims to fully digitize Invest Bank's SCF operations, replacing manual processes with a digital solution. The partnership promises faster financing, reduced paperwork, improved turnaround times, and enhanced user experience for businesses across the UAE. Both companies' leadership expressed enthusiasm about the potential impact on open account finance and working capital optimization.