Digital lender 'Veefin' acquires Software Firm EpikIndifi for 
125 crore
Veefin Solutions, a white-label supplier of digital lending services and supply chain financing, has continued its acquisition binge by acquiring EpikIndifi, a banking-focused software solutions firm, for Rs 125 crore in cash and equity swap.
EpikIndifi is a scale-up stage specialty software solutions company that specializes in banking solutions spanning all parts of a bank's digital transformation and journey. The firm was founded in 2017 by a group of bankers, developers, and entrepreneurs.
Emphasizing on EpikIndifi's underwriting module to enhance Veefin’s digital lending suite, the founder of Veefin says, “Over time, we will retire our current module and integrate EpikIndifi's underwriting module”.
Similarly, Gautam Udani, Chief Operating Officer & Wholetime Director of Veefin Solutions states, “If I had to acquire 50 customers on my own, it would take at least three years”.
“Across 300 plus corporate customers, they process more than 20,000 invoices a day. Being a supply chain finance expert, being present where invoices are processed makes sense to us”, Udani added.
"All our customers were asking for customizations or support personnel. Because every bank operates differently, their underwriting processes are different. I have to build small models on top of my product to match their operational requirements."
Also he expressed on this acquisition and growth pf Veefin by saying, “If I had to acquire 50 customers on my own, it would take at least three years. If any company could build a similar product in the next few years, it was them."
