Fintech Firm Veefin Acquires 26% Stake in EpikIndifi, Boosts Valuation to Rs 125 Crore
In a significant move, Veefin, a leading fintech firm, has acquired a 26% stake in EpikIndifi, a software solution provider, in a cash-and-share swap deal. This acquisition has taken EpikIndifi’s valuation to Rs 125 crore, marking a notable milestone for the company.
This acquisition is Veefin’s third move in the current year, following its purchases of Nityo Infotech and Regime Tax Solutions (which operates TaxGenie and PayInvoice). The acquisition will enable the Veefin Group to expand its offerings in digital retail lending, covering a range of products including personal loans, green loans, buy-now-pay-later (BNPL) schemes, credit cards, mortgage loans, and SME loans.
The acquisition will also bring aboard EpikIndifi’s co-founders, Rajendra Awasthi, Sushmitshri Babu, and Vaidyanathan Balasubramaniam, along with their team. Veefin plans to invest Rs 25 crore in EpikIndifi over the next two to three years, with the intention of expanding its ownership in the company.
EpikIndifi, founded in 2018, offers a range of solutions to banks and financial institutions to enhance their business operations. Its loan origination platform streamlines customer and employee interactions within a cloud-based system, providing speed, convenience, efficiency, transparency, profitability, and regulatory compliance.
Veefin, co-founded in 2020 by Raja Debnath and Gautam Udani, provides SaaS pricing-based supply chain financing solutions and white-labeled supply chain finance technology to financial institutions, fintech, B2B marketplaces, and corporates across the globe. The company raised $3 million in December 2021.
