Veefin, a company specializing in supply chain finance, has announced the acquisition of a strategic stake in Regime Tax Solutions, a Mumbai-based firm focused on GST compliance and automation of accounts payable (AP) and accounts receivable (AR).
This strategic move will see Veefin integrating Regime’s core products, TaxGenie and PayInvoice, into its supply chain technology platform. Veefin’s platform is currently utilized by over 50 financial clients, including banks and other financial institutions.
As part of this acquisition, Veefin’s Managing Director Raja Debnath, Chief Financial Officer Payal Maisheri, and Director Afzal Modak will join the board of Regime Tax Solutions. Rakesh Dube will remain as CEO of Regime, continuing to oversee the company’s operations and product development.
Raja Debnath commented on the acquisition, stating, “This strategic investment aligns with Veefin’s goal of enhancing our supply chain finance offerings. The integration of Regime’s products will help us provide more comprehensive solutions to our clients in the financial sector.”
Afzal Modak added, “Incorporating Regime’s financial management tools will strengthen our platform’s ability to support banks and other financial institutions in managing their accounts payable and receivable processes.”
Rakesh Dube, CEO of Regime Tax Solutions, remarked, “Our partnership with Veefin is a significant step towards expanding our reach and capabilities. Together, we will work to improve the efficiency and compliance of financial and tax processes for our clients.”
This acquisition reflects Veefin’s strategy to broaden its product offerings and enhance its service capabilities within the supply chain finance sector.
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