Mumbai: BSE SME-listed fintech company Veefin has received board approval to raise up to ₹35 crore through a private placement of 3.5 lakh non-convertible debentures (NCDs), each carrying a face value of ₹1,000. The proposed debt fundraise comes shortly after shareholders approved the company’s migration from the BSE SME platform to the mainboard.
The fresh capital is expected to support Veefin’s ongoing growth strategy as it expands its footprint beyond its core lending technology business. Founded by Gautam Udani and Raja Debnath, the company has been strengthening its market position through a series of strategic acquisitions and investments aimed at broadening its fintech offerings.
Veefin has delivered robust financial performance over the past year. In FY26, the company reported a 339% year-on-year increase in operating revenue to ₹345.1 crore, while net profit nearly doubled to ₹32 crore, reflecting strong business momentum and successful execution of its expansion plans.
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The planned NCD issuance provides Veefin with additional financial flexibility as it prepares for its next phase of growth following its proposed transition to the mainboard. The move also signals the company’s focus on leveraging debt capital to support expansion while continuing to strengthen its position in India’s rapidly evolving lending technology ecosystem.
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