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The Veefin Group of Companies has acquired Nityo Tech, the Indian arm of Singapore-based Nityo Infotech, through one of its subsidiaries. This marks Veefin’s second acquisition in two months.
Veefin Solutions’ shares were trading at ₹526.50, up by ₹17.30 (3.40 per cent) on BSE at around 11:30 am.
The acquisition aims to enhance Veefin’s digital transformation services in the banking sector, extending beyond lending to multiple banking verticals. Veefin plans to leverage its brand presence to offer a comprehensive range of services within a unified ecosystem, focusing on product engineering, AI and data.
Raja Debnath, Chairman of Veefin Group, said, “At Veefin, we have always believed that digitisation 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.”
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