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Veefin Picks Up Strategic Stake In Regime Tax Solutions

Inc42 · 1y ago

Veefin Picks Up Strategic Stake In Regime Tax Solutions

Veefin Solutions has acquired a strategic stake in Regime Tax Solutions, a company specializing in GST compliance and accounts automation. With this deal, Veefin's management team will join Regime's board and integrate their platform with Regime's solutions. The size of the deal remains undisclosed, but sources indicate that Veefin acquired a 26% stake in Regime.

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Veefin acquires Nityo Tech to expand digital banking services

YourStory

YourStory · 1y ago

Veefin acquires Nityo Tech to expand digital banking services

Veefin Group of Companies has acquired Nityo Tech Pvt Ltd, the India arm of Nityo Infotech Singapore. This acquisition will enable Veefin to expand its digital transformation services and expertise in AI and ML solutions. With a focus on offering a comprehensive range of services in product engineering, AI, and data, Veefin aims to become the sole technology partner for banks looking to digitise multiple verticals. Nityo Infotech brings its global presence and experience in providing AI and ML solutions to the financial services sector. This acquisition follows Veefin's previous acquisition of Regime Tax Solutions, enhancing its supply chain technology platform.

Veefin Group Buys Nityo Tech To Fuel Its BFSI Portfolio

Inc42 · 1y ago

Veefin Group Buys Nityo Tech To Fuel Its BFSI Portfolio

Veefin Group has acquired Nityo Tech India in an all-cash deal to enhance its digital services portfolio in the banking, financial services, and insurance (BFSI) sector. The strategic move allows Veefin to broaden its offerings and compete more effectively in the financial technology space, particularly in supply chain finance and digital lending. The acquisition also gives Veefin access to Nityo Tech's AI and machine learning solutions, which can be leveraged across 15 verticals to provide innovative solutions to banks. The financial terms of the deal were not disclosed.

Veefin Marks First Overseas Acquisition With GenAI Startup Walnut

Inc42 · 9m ago

Veefin Marks First Overseas Acquisition With GenAI Startup Walnut

Veefin Solutions, a fintech startup, has acquired a 50% stake in Singapore-based GenAI startup Walnut in its first overseas acquisition. The financial details of the all-cash deal were not disclosed. Veefin plans to leverage Walnut's GenAI capabilities to assist corporate and banking clients in transforming unstructured data into actionable insights.

Veefin snaps up UAE company in second offshore acquisition

VCCircle

VCCircle · 6m ago

Veefin snaps up UAE company in second offshore acquisition

Veefin Solutions Ltd, a Mumbai-based supply chain fintech platform, has acquired a 74% stake in UAE's TradeAssets for $4.4 million, marking its second international acquisition and fifth overall in eight months. TradeAssets connects financial institutions in trading trade finance assets. This move adds to Veefin's portfolio of supply chain finance solutions, enhancing their capability to manage liquidity and access global markets. Veefin plans to continue acquisitions to strengthen its integrated trade finance platform.

Veefin to acquire controlling stake in digital marketing firm White Rivers

VCCircle

VCCircle · 6m ago

Veefin to acquire controlling stake in digital marketing firm White Rivers

Veefin Solutions Ltd, a Mumbai-listed fintech platform, plans to acquire a 49% stake in digital marketing agency White Rivers Media for Rs 166.6 crore. This acquisition, involving cash and equity share swaps, will give Veefin majority board control. It's part of Veefin's strategy to expand through acquisitions, following its purchase of EpikIndifi and TradeAssets. White Rivers, serving diverse sectors, is expected to enhance Veefin's AI-driven marketing capabilities, with its current 600 employees generating significant revenue growth.

Veefin Solutions to buy EpikIndifi in its third acquisition

VCCircle

VCCircle · 11m ago

Veefin Solutions to buy EpikIndifi in its third acquisition

Veefin Solutions, a supply chain fintech startup, has announced its acquisition of digital lending platform EpikIndifi. This marks Veefin's third acquisition in the past three months. The deal will involve a combination of cash and stock. Veefin Solutions, which listed on the BSE's SME platform in 2020, is focused on revolutionizing supply chain finance.

With new tax regime sweetened in Budget 2024, can you switch mid-year? Tax experts seek clarity

Money Control

Money Control · 1y ago

With new tax regime sweetened in Budget 2024, can you switch mid-year? Tax experts seek clarity

Salaried taxpayers who had chosen the old income tax regime at the beginning of the financial year 2024-25 may face difficulties in switching to the new tax regime due to a circular issued by the Income Tax Department in April 2020. The circular stated that once the choice of regime is communicated to the employer, it cannot be modified during that year. However, some tax experts believe that employers can still allow employees to revise their choice of regime. Requests have been made to the Income Tax Department for clarification on this issue.

Kedaara Capital picks up stake in Impetus for $350 mn

Inshorts · 7m ago

Kedaara Capital picks up stake in Impetus for $350 mn

Homegrown private equity firm Kedaara Capital has made an investment of $350 million in Impetus Technologies, a leading data, analytics and enterprise AI solutions provider. Kedaara Capital has acquired a strategic stake in Impetus Technologies to drive innovation in its data and AI business and expand the company footprint globally, the PE fund said in a statement.

Over 63% of Indian taxpayers stick to old regime, says report

Economic Times

Economic Times · 1y ago

Over 63% of Indian taxpayers stick to old regime, says report

According to a survey conducted by PB Fintech, more than 63% of tax-paying Indians still adhere to the old tax regime, while 37% have shifted to the new one. The survey also highlighted that women are more diligent in choosing the tax regime, with 74% making informed decisions based on calculations. Provident fund investments remain the most popular choice among those sticking to the old regime, followed by life insurance instruments. The survey covered 1,263 respondents across 350 cities in India.

Has the new income-tax regime killed tax-saving mutual funds? Not yet, but…

Money Control

Money Control · 1y ago

Has the new income-tax regime killed tax-saving mutual funds? Not yet, but…

The future of Equity-Linked Savings Schemes (ELSS) in India is uncertain due to the new tax regime, which made the new tax regime the default one and reduced the tax benefits of ELSS. Some mutual fund houses, like PPFAS Asset Management, have shifted their focus away from tax savings and emphasized pure India investment schemes. However, other fund houses remain optimistic about ELSS, citing the benefits of the compulsory three-year lock-in period and the potential for wealth creation. The overall market size of ELSS is smaller compared to other diversified funds, and financial advisors predict a decline in popularity as more people shift to the new tax regime.

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