Veefin's Strategic Growth: Securing Funds and Expanding Horizons

Veefin, an IT company, has raised Rs 136 crore in recent funding to boost product development and acquisitions. Aiming to secure another Rs 155 crore by January, Veefin aspires to enhance its working capital technology leadership. The firm serves over 500 clients worldwide including major corporations and governments.

In a strategic move to fortify its market presence, IT company Veefin has successfully secured Rs 136 crore (approximately USD 11.5 million) in a recent funding round. This capital injection is earmarked for product development and further acquisitions, according to the company's statement on Thursday.

Veefin's growth strategy includes raising an additional Rs 155 crore by January, aimed at accelerating the expansion of its product portfolio. The funding is set to consolidate Veefin's standing as a leader in working capital technology while enhancing integration with its latest acquisitions.

With over 500 clients such as DBS Bank, IBM, and YES Bank, Veefin is poised for robust business expansion, particularly through its newly acquired companies like Regime Tax Solutions and Walnut.AI, the company confirmed. The next funding round, expected in FY25, marks a step towards realizing these ambitious growth targets.

(With inputs from agencies.)