Acquisitions4 Feb 2025, 05:48 pm
Veefin Group Expands Working Capital Ecosystem with UAE-based TradeAssets Acquisition
AI Summary
Veefin Group, a global leader in working capital technologies, has announced the acquisition of TradeAssets, a Dubai-based company specializing in the digital trading of trade finance assets. This strategic move marks Veefin's fifth acquisition in the past eight months, making it a total of ten companies. TradeAssets, co-founded by senior ex-bankers Lakshmanan Sankaran and Sumit K Roy, has handled over USD 4 billion in deals, connecting more than 120+ banks across over 35 countries. The acquisition is a natural fit within Veefin Group’s overarching strategy to streamline and strengthen financial operations for institutions worldwide.
Key Highlights
- Veefin Group’s fifth acquisition in eight months, now totaling ten companies
- TradeAssets has handled over USD 4 billion in deals, connecting more than 120+ banks across over 35 countries
- Acquisition enhances Veefin’s ability to manage liquidity, distribute risk, and access global markets
- TradeAssets revolutionizes banking operations with a powerful platform that facilitates the trading of trade finance assets
- Integration of TradeAssets elevates Veefin’s portfolio and cements its position as a key ally for banks