Veefin Group acquires Nityo Tech India, enhancing its BFSI digital solutions and leading banking sector transformation through integrated technology.
Veefin Group of Companies headquartered ag Mumbai has fully acquired Nityo Tech Pvt Ltd, an Indian subsidiary of Nityo Infotech Singapore. This acquisition is Veefin’s second in recent months, following their strategic stake in Mumbai-based Regime Tax Solutions. Nityo Infotech, with a presence in over 44 countries, is a leading provider of AI and ML solutions for the financial services sector. This deal is expected to significantly strengthen Veefin’s digital offerings in the banking, financial services, and insurance (BFSI) sector.
Raja Debnath, Chairman of Veefin Group, emphasized the importance of digitization in banking. He stated that the acquisition would enable Veefin to offer a comprehensive suite of digital products to banks. With this acquisition, Veefin aims to position itself as the sole technology partner for banks seeking to digitize various verticals. This move aligns with Veefin’s strategy to lead the digital transformation in the banking sector by providing innovative and integrated solutions.
Nityo Infotech operates across diverse sectors, including banking, insurance, telecom, and healthcare. The acquisition will allow Veefin to extend its digital transformation services beyond lending, covering multiple banking verticals. Leveraging their strong brand presence, Veefin plans to offer a unified ecosystem of services, with a focus on AI, data, and product engineering. This acquisition positions Veefin to spearhead the ongoing digital shift in the banking industry, offering banks a one-stop solution for their technology needs.
Naveen Kumar, Founder & CEO of Nityo Infotech, said, “We’re thrilled to finalise this acquisition with the Veefin group. Our combined expertise will help banks accelerate their journey towards digital transformation. With Veefin’s strong presence in the financial sector, our reach to financial institutions is set to grow significantly within one unified ecosystem.”
