Fintech firm, Veefin Group has acquired a 26% stake in EpikIndifi, a software solution provider, through a cash-and-share swap deal. This acquisition values EpikIndifi at Rs 125 crore and marks Veefin’s third major purchase this year, following its acquisitions of Nityo Infotech and Regime Tax Solutions (which operates TaxGenie and PayInvoice).
As part of the deal, EpikIndifi’s co-founders, Rajendra Awasthi, Sushmitshri Babu, and Vaidyanathan Balasubramaniam, will join Veefin Group along with their team. The acquisition aims to expand Veefin’s digital lending capabilities across personal loans, green loans, buy-now-pay-later (BNPL) schemes, credit cards, mortgage loans, and SME loans, complementing its strong presence in working capital solutions.
Veefin has announced plans to invest Rs 25 crore into EpikIndifi over the next two to three years to increase its stake for a complete acquisition. Launched in 2018, EpikIndifi offers cloud-based loan origination platforms that streamline customer and employee interactions for banks and financial institutions, enhancing efficiency, transparency, and regulatory compliance.
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Veefin, co-founded in 2020 by Raja Debnath and Gautam Udani, specializes in SaaS-based supply chain finance technology. It serves financial institutions, fintech, and B2B marketplaces worldwide. With this latest acquisition, the platform raised $3 million in December 2021 and continues to expand its reach in the digital lending sector.
