Veefin Solutions Share Price Jumps 2.54%; Secures ₹136 Crore Funding

Veefin Solutions informed the stock exchanges that Veefin Group of Companies has successfully raised ₹136 crore (~$11.5 million USD) in its recent funding round.

This capital, secured from long-standing investors, will be used to drive the company’s product growth and market expansion. The funding will enable Veefin to further enhance its technology offerings and solidify its position in the financial tech space.

Plans for Future Expansion and Next Funding Round

Looking ahead, Veefin plans to raise an additional ₹155 crore (~$13 million USD) in FY 2025, which will accelerate the expansion of its recently acquired businesses, including Tax Genie, ezee.ai, Nityo Infotech, and Walnut.AI.

The company has established strong partnerships with over 500 clients, including notable names such as DBS Bank, IBM, and Jio Finance. It has also achieved a significant milestone, with annual disbursements totalling $30 billion on its platform, showcasing its prominent role in the financial technology industry. This upcoming funding round is expected to fuel Veefin’s future growth and expansion across multiple markets.

Commenting on the fundraise, the Co-Founder and COO of the Veefin Group of Companies, Gautam Udani, said, “This marks a significant step in the Veefin Group’s journey of innovation and growth. The trust and continued support from our investors reflect our proven track record of delivering state-of-the-art transformative solutions for banks, financial institutions and corporates. We will remain steadfast in our commitment to be the most trusted partner for digital transformation for our domestic and global clients.”

On December 19, 2024, Veefin Solutions share price opened at ₹669.05, down from its previous close of ₹694.35. However, at 11:49 AM, the share price of Veefin Solutions was trading at ₹712.00, up by 2.54% on the BSE.

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.