Veefin Solutions Ltd’s shares were up by 5 per cent after the company reported adding ‘Metalbook’, a full-stack tech-enabled player for the metal industry, to its customer portfolio. The company informed that Metalbook has a network of over 1,100 suppliers and buyers across the global metal industry. It said the platform streamlines processes in buying, selling, customising, and recycling metals, addressing structural inefficiencies in the metal industry supply chain.
Veefin Solutions integrates its supply chain finance (SCF) platform into Metalbook’s network, facilitating financing from multiple lenders and eliminating the need for one-on-one integrations, saving significant resources, it said.
Raja Debnath, Managing Director, Veefin Solutions Ltd, said, “There are dozens of industry/speciality focused marketplaces in India and are playing a vital role in improving the lot of small and medium-sized enterprises (SMEs). Veefin’s integration into Metalbook’s platform will allow customers with different risk profiles to access financing at competitive rates, leveraging the multiple lenders that are connected to the platform. We have observed a strong interest from other marketplaces seeking similar embedded SCF solutions from us and we will see many such programmes in the near future.”
Shares were up by 5 per cent to ₹337.15 at 2.33 pm on the BSE.