Veefin obtains strategic stake in Regime Tax Solutions through its subsidiary

By Gloria Mathias

Veefin, a global Supply Chain Finance firm, has announced a strategic stake in Mumbai-based Regime Tax Solutions, a growing company in advanced GST compliance and Accounts Payable (AP) and Accounts Receivable (AR) automation.

This move enables banks and financial institutions to offer corporations an integrated SCF solution enhanced with the power of underlying transaction data available from GST compliance and invoice payment business cycles.

Veefin will expand its product portfolio by integrating two solutions from Regime, TaxGenie and PayInvoice, into its supply chain technology platform for banks and financial institutions.

Our long-standing commitment to democratising access to supply chain finance and offering seamless digital lending for financial institutions has driven us to continually enhance our offerings. Our stake in Regime Tax Solutions perfectly aligns with our vision to help financial institutions have the best of SCF technology that allows them to solve the real problems that their corporate clients grapple with. With the new product integration, banks and financial institutions will have enhanced capabilities to solve the AR/AP issues faced by Corporates, and ultimately provide a superior experience to their customers,” said Raja Debnath, Managing Director at Veefin.

“This partnership marks a significant step forward in our mission to empower financial institutions with cutting-edge solutions. Integrating Regime Tax’s intelligent financial management solutions will enhance our ability to serve banks as we connect the money flow layer with the underlying GST data flow layer,” added Afzal Modak, Director at Veefin.

Rakesh Dube, CEO at Regime Tax Solutions, said, “Our goal is to establish ourselves as the go-to worldwide platform for financing, compliance, and AR/AP automation. This partnership with Veefin will enable us to transform how companies handle their financial and tax compliance procedures by offering seamless integration, technologies, and unmatched efficiency. Together with Veefin, we aim to empower companies all over the world to effectively navigate complicated regulatory environments and realize their greatest potential for expansion.