Veefin Solutions Ltd onboards India’s Fastest Growing Managed Metal Marketplace, Metalbook

Mumbai, January 31st, 2024: Veefin Solutions, the Number 1 technology vendor for Supply Chain Finance (SCF) in the country, has recently added Metalbook, India’s full stack tech-enabled player revolutionizing the metal industry by streamlining the processes of buying, selling, customizing and recycling metals, to its growing list of customers.

Metalbook has a network of over 1,100+ suppliers and buyers within the global metal industry. Over the years, Metalbook has become a leading player in a complex metal industry supply chain which is pervaded with structural inefficiencies.

Metalbook has built an integrated tech platform providing 10x efficiency in the entire supply chain enabling buyers and sellers to expand their market presence domestically and globally. By bridging the gap for traditional players, they are committed to creating a end to end ecosystem that prioritizes fast and transparent transactions along with offering a global symphony of sustainability and industrial innovation, thus creating a circular economy.

Veefin Solutions seamlessly embeds its cutting-edge Supply Chain Finance platform into Metalbook's extensive network of metal suppliers and buyers and allows Metalbook to offer financing to its network from hundreds of lenders in the country, eliminating the need for cumbersome one-on-one integrations with each lender, saving significant resources.

Raja Debnath, Managing Director, Veefin Solutions Ltd, said, “There are dozens of industry/speciality focused marketplaces in India and are playing a vital role in improving the lot of small and medium-sized enterprises (SMEs) in our nation. Veefin's integration into Metalbook's platform will now allow customers with different risk profiles to access financing at competitive rates, leveraging the multiple lenders that are connected to the platform. We have observed a strong interest from other marketplaces seeking similar embedded SCF solutions from us and we will see many such programs in the near future.”

Raghavendra Pratap Singh, Co-Founder, Metalbook, said, “Metalbook has always been committed to providing the best possible experience to its users. With Veefin’s SCF platform embedded into our Credit Marketplace, we are taking another step towards delivering value and innovation to our customers. This advancement will now help our customers to procure multiple financing options on one single platform. With this, we are not only simplifying the entire credit process but also ensuring that our users can secure financing at more favourable terms, ultimately promoting growth and financial inclusivity in the metal industry.”

About Veefin Solutions Limited

Veefin Solutions Limited (Veefin) is a global leader in Digital Supply Chain Finance. Listed on BSE SME, the company is reimagining Supply Chain Finance & Digital Lending through innovative, agile & scalable technology. Veefin builds white-labelled Supply Chain Finance and Lending solutions including end-to-end Lending Stack, Smart Credit Decisioning, Business Intelligence, Analytics and Omni-channel Onboarding for Banks, Financial Institutions, Fintechs, B2B marketplaces, and Corporates.

Incorporated in 2020, Veefin is headquartered in Mumbai with offices in Dhaka (Bangladesh), Ahmedabad & Dubai.

About Metalbook

Metabook is India's fastest growing managed marketplace, revolutionizing the industry by streamlining the processes of buying, selling and recycling metals. It is a superior one-stop player in the metal industry providing inventory liquidation, customization, logistics, financing, e-auctioning, scrap recycling, project management solutions. By connecting offline players, we are dedicated to building a global marketplace that believes in quick and transparent transactions along with hassle free logistics and financing enabling end-to-end procurement and liquidation solutions for the customers and suppliers.

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For more information, contact:

Mr. Varun Nankani | varun@veefin.com