The Veefin Group has announced its third acquisition, EpikIndifi, in a cash and equity deal worth around INR 125 crore. This move is part of Veefin’s strategy to become a comprehensive Working Capital Finance Platform.
The total valuation of the three recent acquisitions is about INR 400 crore, with the first tranche costing INR 215 crore. These acquisitions enhance Veefin’s capabilities across digital Supply Chain Finance, Identity Verification, Financial Analysis, Trade Securitisation, and more. The group has achieved annual disbursements of $25 billion.
In June, Veefin Group acquired Regime Tax Solutions, known for TaxGenie and PayInvoice, and in August, it purchased the Indian division of global tech firm Nityo Infotech. These acquisitions are expected to significantly expand Veefin’s client base, boosting its number of banking, financial, and corporate clients from 55 last year to over 500 by the end of this financial year.
With EpikIndifi, Veefin will expand into digital retail lending, including personal loans, BNPL schemes, and more, alongside its existing working capital solutions. EpikIndifi offers automation for identity, decision-making, and collections. The co-founders, all former Infosys leaders with over 25 years of experience, will join Veefin along with their team.