Private Equity

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Veefin picks up stake in Regime Tax Solutions

Business Line  

Veefin Solutions Ltd has acquired a stake in Mumbai-based Regime Tax Solutions. The deal will enable an integration of Regime’s GST compliance and accounts automation solutions, TaxGenie and PayInvoice, with Veefin’s platform.Veefin’s Managing Director, Raja Debnath; chief financial officer (CFO) Payal Maisheri; and Director Afzal Modak; will join Regime’s board. Regime’s CEO Rakesh Dube will continue to lead the company.The target firm claims that over 200 corporates have used PayInvoice to process invoices worth INR 65,000 crore, and TaxGenie had facilitated GST filings for over 1,000 corporate GSTINs.Veefin provides white-labelled supply chain finance technology to financial institutions, fintech, B2B marketplaces, and corporations.