Veefin Group of Companies Acquires Nityo Tech Pvt Ltd

On August 13, 2024, Veefin Solutions Ltd announced a significant strategic move by the Veefin Group of Companies by acquiring 100% of Nityo Tech Pvt Ltd, the India-based arm of Nityo Infotech Singapore. Nityo Tech Pvt Ltd was acquired through one of its subsidiaries.

This acquisition, the second by Veefin in two months, underscores its commitment to advancing digital transformation in the banking sector. Nityo Infotech, renowned for its AI and ML solutions, operates in over 44 countries and serves over 3,000 global clients across 15+ verticals, including banking, insurance, telecom, and healthcare.

By integrating Nityo Tech, Veefin aims to enhance its capabilities to deliver cutting-edge digital solutions. The acquisition will enable Veefin to expand its offerings beyond traditional lending services, tapping into a broader spectrum of banking functions.

This move leverages Veefin’s established brand presence and infrastructure, positioning the company to drive innovation in product engineering, AI, and data analytics within the banking industry. As digital transformation accelerates, Veefin is set to play a pivotal role in shaping the future of banking with its unified ecosystem of advanced technological solutions.

Commenting on this acquisition, the Chairman of the Veefin Group of Companies, Raja Debnath, said, “We are pleased to welcome Nityo Infotech to our expanding portfolio of offerings. At Veefin, we have always believed that digitisation is crucial for growth in the banking sector. This acquisition enables us to provide an extended product suite to banks aiming to digitise multiple verticals, positioning Veefin as the sole technology partner banks will ever need.”

Naveen Kumar, Founder and CEO of Nityo Infotech, said, “We’re thrilled to finalise this acquisition with the Veefin group. Our combined expertise will help banks accelerate their journey towards digital transformation. With Veefin’s strong presence in the financial sector, our reach to financial institutions is set to grow significantly within one unified ecosystem.”

On August 12, Veefin Solutions also announced that the company had acquired a 50.99% stake consisting of 50,763 Equity shares of ₹180.81 each in Infini Systems Private Limited, a group company.

About Veefin Solutions Limited

Veefin Solutions Limited (Veefin) is a global leader in Digital Supply Chain Finance, revolutionising Supply Chain Finance and Digital Lending with innovative, agile, and scalable technology.

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