Veefin Group of Companies Acquires 100% Stake in Nityo Tech Pvt Ltd Veefin Group of Companies has announced its latest acquisition via one of its subsidiaries, acquiring 100 per cent of Nityo Tech Pvt Ltd, which is Nityo Infotech Singapore's India invested business
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Veefin Solutions Limited, a leading digital supply chain finance company, has made a strategic acquisition through one of its subsidiaries, purchasing 100 per cent of Nityo Tech Pvt Ltd, an Indian entity invested by Nityo Infotech Singapore. This marks Veefin's second acquisition in just two months, solidifying its position at the forefront of the banking sector's rapid digital transformation. By leveraging its existing infrastructure, Veefin will expand its digital transformation services beyond lending to various banking verticals. With a strong brand presence in the banking sector, Veefin will offer a comprehensive suite of services and solutions within a unified ecosystem, focusing on product engineering, AI, and data. This acquisition enables Veefin to further establish itself as a key player in the banking sector's digital evolution, driving innovation and growth.
"We are pleased to welcome Nityo Infotech to our expanding portfolio of offerings. At Veefin, we have always believed that digitization is crucial for growth in the banking sector. This acquisition enables us to provide an extended product suite to banks aiming to digitise multiple verticals, positioning Veefin as the sole technology partner banks will ever need," said Raja Debnath, chairman of the Veefin Group of Companies.
Naveen Kumar, founder & CEO of Nityo Infotech, stated, "We're thrilled to finalise this acquisition with the Veefin group. Our combined expertise will help banks accelerate their journey towards digital transformation. With Veefin's strong presence in the financial sector, our reach to financial institutions is set to grow significantly within one unified ecosystem."
