Digital supply chain financier Veefin raises $3 mn in Series A funding
- IBEF
- December 23, 2021
Veefin, a technology provider for supply chain financing (SCF), announced on Wednesday that it had received $3 million in funding from Dubai-based entrepreneur Rajesh Rajendran. The firm is based out of Mumbai and was founded by Gautam Udani and Raja Debnath.
According to Veefin, the Series A financing will be utilised to establish product and technical teams to improve SCF technology depending on market conditions.
“Our vision is to be the global leader in providing technology to lenders for Digital Supply Chain Financing. Our solution has been developed by bankers, for bankers and is the most comprehensive by far in the market. With this funding, we will further amplify Veefin’s feature-rich platform, add further product lines, and ensure seamless customer service for our global clients,” said Raja Debnath, co-founder and chief executive officer of Veefin.
“Financial institutions have lately been focusing on SME lending and by virtue of that there is tremendous interest in SCF. Veefin is one of the few names globally that is putting supply chain financing under the microscope and providing relevant and smart solutions to lenders. I am glad to support this razor focused agenda of simplifying the SCF journey for corporates and lenders,” said Rajendran, the Dubai businessman.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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