Veefin Raises Significant Funds for Global Expansion in Working Capital Tech

Veefin, an IT company, has successfully secured Rs 136 crore to boost its product development and acquisition strategy, further reinforcing its leadership in working capital technology. Additionally, the company plans another significant fundraising in January to expedite growth and integration across its recent acquisitions.

IT company Veefin has announced a successful funding round, raising Rs 136 crore, which is approximately USD 16 million, to enhance product development and acquisitions. This strategic move is aimed at bolstering the company's position as a global leader in working capital technology.

Veefin's future endeavors include a plan to acquire Rs 155 crore in the next funding round by January. The raised capital will focus on expanding the company's product portfolio, accelerating its growth, and ensuring robust integration across recent acquisitions.

Among its notable clients are financial titans such as DBS Bank and IBM. Further expansion plans include fast-tracking growth in acquired firms like Regime Tax Solutions, Epikinidifi, and Walnut.AI. This move is set to pave the way for Veefin's continued dominance in the market.

(With inputs from agencies.)