Veefin Group Acquires EpikIndifi, Expanding Digital Lending Reach

Veefin Group of Companies today announced its third acquisition in three months, buying digital lending platform EpikIndifi for around ₹125 crore. This is the latest move by Veefin in its corporate expansion strategy, with the total acquisition value standing at around ₹400 crore.

Shares of Veefin Solutions Limited were trading at ₹698.35 on the BSE, up ₹15.80 or 2.31 per cent as at 10.16 am today.

The cash and stock swap deal is expected to grow Veefin’s customer base from 55 to over 500 by the end of the fiscal year. The acquisition of EpikIndifi adds new revenue streams through digital retail lending, including personal loans, green loans and BNPL schemes.

Veefin Group, in its bid to become a global working capital financing platform, had earlier acquired Regime Tax Solutions in June and Nityo Infotech’s Indian arm in August. The company estimates the total outlay for the first tranche of these acquisitions at ₹215 crore.

Raja Debnath, CEO and co-founder of Veefin Group, cited the growing need for digital transformation in banking and finance as a key factor driving acquisitions. The company’s platform now handles $25 billion in annual payouts.

• Also Read: Veefin Solutions and Central Bank of India Announce Technology Partnership