Veefin Group acquires digital lending platform EpikIndifi for $14.9m

By Gloria Mathias

The Veefin Group of Companies has announced its third acquisition of EpikIndifi, an end-to-end digital lending platform, in a cash and equity swap deal valued at around $14.9 million (INR 125 crore).

Veefin Group has been on a corporate expansion exercise in FY 24-25 to transform into an end-to-end working capital finance platform. The three companies’ acquisitions are valued at INR 400 crore. The total expected outlay of the first tranche of all three acquisitions in the last three months is INR 215 Cr (through cash and equity).

Along with the existing group companies, the latest acquisitions have powered Veefin Group to address every aspect of optimising working capital by offering solutions across end-to-end digital Supply Chain Finance, Digital Identity Verification & Automated Financial Statement Analysis, trade Securitisation, Transaction Banking, Automated Accounts Receivable (AR) and accounts Payable (AP) and Software Consulting and Services. Veefin Group has achieved an annual disbursement worth $25Bn on its platform.

With EpikIndifi, Veefin will add new revenue streams through digital retail lending across personal loans, green loans, BNPL schemes, credit cards, mortgage loans and SME loans in addition to its existing heft in working capital solutions. EpikIndifi offers banks and financial institutions a suite of intelligent automation across identity, decisioning, lending, and collection for retail products.

Raja Debnath, Chairman & Co-Founder of the Veefin Group of Companies, said, “Banks, financial institutions, and corporates are showing a tremendous appetite for digital transformation, particularly to drive access to formal credit across small and medium businesses that are engines of growth in emerging economies for domestic and international trade. Yet credit continues to be the biggest challenge; the gap in supply chain finance in India alone is pegged at INR 20-25 Tn. Over the last few years, we have been at the forefront of deploying the best of innovation at scale in digital supply chain finance.”

EpikIndifi CEO and co-founder Rajendra Awasthi said, “Being part of the Veefin Group of Companies is a formidable opportunity for EpikIndifi to deliver a truly differentiated experience for our customers. The company has an incredible suite of solutions that will power banks and financial institutions to achieve digital transformation to scale. We are extremely delighted to join hands with them in this mission.”