Veefin Group Acquires EpikIndifi to Expand Digital Lending Offerings

The Veefin Group of Companies has continued its aggressive expansion, announcing the acquisition of end-to-end digital lending platform EpikIndifi in a cash and equity swap deal valued at approximately ₹125 crore. This marks the third acquisition for Veefin Group in FY 24-25 as it seeks to become a comprehensive working capital finance platform.

With the acquisition of EpikIndifi, Veefin Group is now well-positioned to address the growing global SME financing gap, estimated at $14 trillion. The company offers a wide range of working capital solutions, including supply chain finance, digital identity verification, automated financial statement analysis, trade securitisation, transaction banking, automated accounts receivable and payable, and software consulting services. Through these offerings, Veefin has achieved annual disbursements of $25 billion.

EpikIndifi’s expertise in digital retail lending aligns seamlessly with Veefin’s strategic goals. The platform provides banks and financial institutions with intelligent automation solutions for identity, decisions, lending, and collection processes. By combining forces, Veefin will be able to offer a more comprehensive suite of digital lending products, including personal loans, green loans, BNPL schemes, credit cards, mortgage loans, and SME loans.

The acquisition of EpikIndifi also brings valuable talent to Veefin Group. Rajendra Awasthi, Sushmitshri Babu, and Vaidyanathan Balasubramaniam, the co-founders of EpikIndifi and experienced banking and software consulting professionals, have joined the Veefin team along with their team.

This latest acquisition is expected to significantly increase Veefin Group’s clientele, particularly in the banking, financial institutions, and corporate sectors. The company anticipates growing its customer base from 55 to over 500 by the end of this financial year.

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 ₹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. We are now aggressively expanding to offer solutions across the entire universe of working capital, thereby emerging as the Global No.1 Working Capital Finance Platform.” 

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

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.