Veefin provides a lending-as-a-service platform that automates supply chain finance processes for financial institutions and B2B marketplaces, utilizing features like AI-driven scorecards and end-to-end transaction management. The platform reduces manual data entry errors by 90% and accelerates invoice financing by five times, enabling clients to scale their financing operations efficiently.
Funding
$16M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions and B2B marketplaces often face challenges in efficiently managing and automating their supply chain finance processes. Manual data entry, slow processing times, and limited scalability hinder their ability to provide timely and effective financing solutions to their clients.
Solution
Veefin offers a lending-as-a-service (LaaS) platform designed to streamline and automate supply chain finance operations for financial institutions and B2B marketplaces. The platform provides an end-to-end solution encompassing digital origination, AI-driven scorecard building, transaction management, delinquency management, analytics, and reporting. By automating tasks and providing a user-friendly interface, Veefin enables clients to reduce manual errors, accelerate invoice financing, and scale their financing operations. The low-code platform allows for easy customization and integration with existing systems, while pre-built integrations across various services such as ECDD, e-KYC, and payment gateways further enhance efficiency.
Target Audience
Veefin primarily targets financial institutions and B2B marketplaces seeking to automate and scale their supply chain finance operations.
Features
- Low-code drag-and-drop interface for creating and modifying tailored workflows
- Digital-first origination with omnichannel consumer interface
- Prebuilt integrations across ECDD, e-KYC, Fraud/AML, Payment Gateway, Credit Bureaus, and more
- AI-driven scorecard builder for eligibility and assessment models
- End-to-end transaction management for various SCF product structures (factoring, reverse factoring, etc.)
- Configurable collection strategies and integration with agencies for delinquency management
- Pre-configured role-based executive and self-serve dashboards with custom charting
- Scheduled and ad-hoc reports for analysis, regulatory reporting, and internal audit
- ISO 27001 and SOC2 certified with SDLC for global security standards