Veefin Solutions has approved a plan to raise ₹35 crore through debt as the fintech company continues to expand its business. The company’s board has approved the private placement of 3,50,000 unrated, unlisted Non-Convertible Debentures (NCDs) with a face value of ₹1,000 each.
The latest fundraising comes at a time when Veefin is growing rapidly through acquisitions, new products, and international expansion. The company has also been preparing for a move to India’s main stock exchange platform while strengthening its presence in digital banking and lending solutions.
Strong Financial Growth Supports Expansion Plans
The ₹35 crore debt raise is expected to help Veefin fund its business growth and future expansion plans. Over the past two years, the company has raised equity capital and is now adding debt to support its next stage of growth.
Veefin reported impressive financial results in the first half of FY26. Its consolidated revenue increased 476.4% year-on-year to ₹110.03 crore. Profit Before Tax (PBT) rose 149% to ₹10.38 crore, while Profit After Tax (PAT) attributable to shareholders grew 103.5% to ₹7.17 crore.
The company’s standalone business also performed well. Revenue increased 108.1% year-on-year to ₹26.38 crore, while standalone PAT jumped 351.3% to ₹6.44 crore.
Looking ahead, Veefin expects standalone revenue to grow by 75% to 85% during FY26. The company believes consolidated revenue could increase by 200% to 300% as its newly acquired businesses start contributing more. It is also aiming for a blended EBITDA margin of 30% to 35% in the coming years.
Veefin’s Supply Chain Finance (SCF) business continues to be one of its biggest strengths, with an EBITDA margin of more than 50%. The company is also seeing growing demand for its trade finance, cash management, and internet banking solutions.
Its global business pipeline is currently valued at around $45 million (about ₹400 crore). This includes 85 deals across 24 countries, with more than 35 active opportunities and 10 large deals worth over $2 million each.
Acquisitions and Global Expansion Continue
Veefin has been expanding quickly through acquisitions. The company completed deals worth nearly ₹400 crore, helping it add new products and strengthen its position in the banking technology sector.
One of its biggest acquisitions was EpikIndifi, which was bought for around ₹125 crore through a mix of cash and shares. The deal added digital lending products such as personal loans, green loans, buy now pay later (BNPL), credit cards, mortgages, and SME loans to Veefin’s portfolio.
The company also acquired Regime Tax Solutions, Nityo Infotech’s India business, and Singapore-based Walnut.AI to expand its banking and financial technology offerings.
At the same time, Veefin is merging its subsidiaries GlobeTF Solutions and Estorifi Solutions into the parent company. The merger has already received approval from the National Company Law Tribunal (NCLT). It has also received full support from unsecured creditors, while participating secured creditors have approved the proposal and the remaining secured creditor has issued a No Objection Certificate.
Veefin is also expanding outside India. Through its partnership with IWS Holdings, the company has entered the Sri Lankan banking market to provide digital financing solutions for small and medium-sized businesses.
The company also continues to strengthen its presence through the PSB Xchange platform, where it has an exclusive seven-year agreement. The recent onboarding of Bank of India has further increased the platform’s reach.
Main Board Listing Plans and Future Growth
Along with expanding its business, Veefin is preparing to move from the BSE SME platform to the BSE Main Board. The company is also planning a direct listing on the National Stock Exchange (NSE). This move is expected to improve share trading and attract more institutional investors.
Earlier, Veefin had raised ₹136 crore through equity funding to support product development and business growth. The company has continued to raise funds as it focuses on long-term expansion.
Although Veefin has reported strong profits, it has also spent heavily on acquisitions and business growth. This has affected its cash flow, making external funding an important part of its expansion strategy.
The latest ₹35 crore debt raise shows that Veefin is continuing to invest in future growth. With strong financial performance, a growing international business pipeline, successful acquisitions, and plans to move to the main stock exchanges, the fintech company is aiming to strengthen its position in India’s fast-growing digital banking and financial technology market.