Veefin Group Acquires TradeAssets to Expand Trade Finance Solutions The acquisition empowers banks to efficiently manage trade finance assets through a unified platform, enhancing collaboration and unlocking cross-selling opportunities for improved financial operations.
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Veefin Group, through its subsidiary Estorifi Solutions, has acquired Dubai-based TradeAssets, a digital trading platform for trade finance assets. This move is part of Veefin's strategy to enhance financial operations for global institutions.
Raja Debnath, Chairperson, Co-founder, and CEO of Veefin Group, "Integrating TradeAssets into our ecosystem allows us to offer more comprehensive solutions to financial institutions worldwide. We aim to provide an integrated platform covering all aspects of trade finance, from origination to distribution and beyond."
The acquisition will enable banks to seamlessly originate, distribute, and manage trade finance assets under a unified ecosystem. Additionally, it strengthens collaboration opportunities with banks and opens doors for cross-selling services, the company stated.
This marks Veefin's fifth acquisition in eight months, bringing its portfolio to ten companies.
"The TradeAssets platform operates in a large market base consisting of over 10,000+ banks, with estimated secondary asset sales of USD 1 trillion and primary asset origination of USD 2 trillion. The trade finance industry is at a critical juncture, with banks seeking smarter ways to manage liquidity, distribute risk, and access global opportunities," said Lakshmanan Sankaran, Co-founder and Chairman of TradeAssets.
Over the past three years, TradeAssets has facilitated deals worth over USD 4 billion and connected more than 120 banks across 35 countries. With this acquisition, Veefin aims to redefine how financial institutions optimise trade finance operations globally.
