Muthoot FinCorp partners with Veefin for supply chain finance operations

Muthoot FinCorp has chosen Veefin Solutions as their technology partner to kickstart supply chain finance (SCF) operations in the country. The integration will see Muthoot FinCorp utilising Veefin's end-to-end stack for all SCF products.  

Veefin will support Muthoot FinCorp by providing a suite of SCF solutions, including supplier onboarding, loan underwriting through the Loan Origination Solution (LOS), and transaction management on the Loan Management Solution (LMS). The process will be complemented by in-depth analysis using Veefin's Reporting and Business Intelligence solution, as per the company. 

Shaji Vargese, CEO - Muthoot FinCorp Ltd, said “Beginning our Supply Chain Finance journey is another step towards solidifying our commitment to our mission in providing timely credit to millions of MSME entrepreneurs in the country. Supply Chain Finance is the need of the hour to help MSMEs borrow using the safest form of lending possible today to avail credit customised to their requirements. I’m sure joining hands with Veefin Solutions will ensure seamless process with contemporary technology resulting in enhanced customer experience. 

Raja Debnath, Managing Director, Veefin Solutions Ltd, said “We are excited to partner with Muthoot FinCorp, a leading player in the NBFC space, and I hope this partnership will help us become one of the largest players within the Supply Chain Finance market in the country. I'm sure with Muthoot FinCorp's expertise and experience, we can enter the untapped market of MSMEs through supply chain financing.” 

The company recently announced another partnership with YES BANK, introducing SmartFin, an end-to-end Digital Supply Chain Finance platform powered by Veefin Solutions.  

SmartFin facilitates digital SCF loans for dealers and suppliers of corporate clients, supporting strategic business objectives such as working capital efficiency, market expansion, sales acceleration, and strengthening supply chain partnerships. The platform's capabilities in digital onboarding, credit underwriting, loan management, and transaction processing redefine the accessibility of SCF products.