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PNN
Mumbai (Maharashtra) [India], August 7: Veefin Solutions Limited (BSE: VEEFIN | 543931), a leading global provider of working capital technology solutions, today announced that its Board has granted in-principle approval for the consolidation of its subsidiaries, Estorifi Solutions Limited ("Estorifi") and GlobeTF Solutions Limited ("GlobeTF"), with the parent company by way of merger or such other means. This marks a significant milestone in Veefin's mission to create the world's most comprehensive and scalable working capital technology platform. The move will bring all core product verticals--embedded finance, trade finance, digital lending, and cash management--under one integrated umbrella. Creating Synergies Across a Unified Platform Over the last year, Veefin has built a robust and interoperable financial ecosystem through organic growth and strategic acquisitions. Each business now complements the other, forming an end-to-end technology stack for financial institutions and corporates: * Estorifi (operating PSBXchange) connects Corporates and SMEs onfintechs, marketplaces, and other non-financial platforms for their SCF, Trade finance and working capital needs to multiple Banks and NBFCs. This unified platform is a global-first, and will act as the common technology bridge for financial institutions. * GlobeTF enhances Veefin's capabilities by integrating transaction banking solutions, including trade finance and cash management, into a comprehensive transaction banking suite. * Together, they complete Veefin's vision of a modular, API-first infrastructure that supports the entire working capital lifecycle - from loan origination to collections, and from invoice automation to risk monitoring. Speaking on the announcement, Mr. Raja Debnath, Chairman & Managing Director of Veefin Solutions Limited, said: "This consolidation marks a natural progression in our journey to build the world's most comprehensive and scalable working capital platform. It simplifies our corporate structure and accelerates our long-term vision of creating the largest global working capital ecosystem. A unified structure empowers us to execute strategic priorities more efficiently - be it expanding recurring revenues, entering new markets, or unlocking cross-sell and upsell opportunities across our client base - ultimately reducing customer acquisition costs and increase in revenue" Mr. Gautam Udani, COO & Whole-Time Director, added: "This proposed consolidation will unlock operating leverage and significantly enhance our product proposition. It gives us the agility to innovate faster, offer bundled solutions across supply chain, trade and embedded finance, and deliver a truly seamless experience to our clients." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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