Veefin Solutions Ltd acquired an additional 10.01% stake in White Rivers Media Solutions at a cost of ₹37.3 million through subsidiary Infini Systems. This follows prior investments (26.55% in July, up to 49% planned), consolidating control in the digital marketing firm with ₹114 Cr FY24 revenue.
Veefin Solutions Ltd, through Infini Systems, completed acquisition of extra 10.01% equity in White Rivers Media Solutions Pvt Ltd for ₹37.3 million consideration. The transaction builds on earlier stakes—26.55% (₹87 Cr, July 2025) and planned 49% (₹166.6 Cr announced Feb 2025)—securing majority board control and synergies in MarTech.
White Rivers, a Mumbai-based digital agency serving BFSI, entertainment, FMCG, and e-commerce, posted ₹113.85 Cr FY24 turnover (up from ₹97.57 Cr FY23). The integration enhances Veefin's fintech ecosystem with AI-driven marketing, client consolidation, and revenue efficiency amid its aggressive M&A (11+ deals including EpikIndifi, TradeAssets).
No regulatory approvals needed; deal closed via cash/equity swap. Veefin's Q2 FY25 profit surged 325% to ₹4.13 Cr on 112% revenue growth, funding inorganic expansion toward $18 Mn fundraising target.
Key highlights
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Stake acquired: Additional 10.01% in White Rivers Media (total control building).
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Cost: ₹37.3 million via Infini Systems subsidiary.
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Target FY24: ₹113.85 Cr revenue; 600+ employees in digital marketing.
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Strategic: MarTech synergies for Veefin's supply chain finance ecosystem.
Sources: Investment Guru India; Business Standard; VCCircle; Moneyworks4me; Inc42.