Veefin Group of Companies announced today its third acquisition in three months, purchasing digital lending platform EpikIndifi for approximately ₹125 crore. This marks Veefin’s latest move in its corporate expansion strategy, with total acquisitions valued at around ₹400 crore.
The shares of Veefin Solutions Limited were trading at ₹698.35 up by ₹15.80 or 2.31 per cent on the BSE today at 10.16 am.
The deal, involving cash and equity swap, is expected to increase Veefin’s client base from 55 to over 500 by the end of the fiscal year. EpikIndifi’s acquisition adds new revenue streams through digital retail lending, including personal loans, green loans, and BNPL schemes.
Veefin Group, aiming to become a global working capital finance platform, previously acquired Regime Tax Solutions in June and the Indian arm of Nityo Infotech in August. The company estimates the total outlay for the first tranche of these acquisitions at ₹215 crore.
Raja Debnath, Chairman & Co-Founder of Veefin Group, cited the growing demand for digital transformation in banking and finance as a key driver for the acquisitions. The company’s platform currently handles annual disbursements worth $25 billion.
