Mumbai: The Veefin Group, a global leader in Working Capital Technology solutions, has announced a strategic partnership with IWS Holdings in Sri Lanka to accelerate digital transformation across the country’s banking and financial services industry. This collaboration marks Veefin’s official entry into the Sri Lankan market, with the company set to showcase its offerings at the Sri Lanka Fintech Summit in Colombo on September 24–25.
Veefin’s modular and scalable Working Capital Technology Platform includes solutions for Supply Chain Finance, Trade Finance, Cash Management, and a Digital Lending Suite, designed to help financial institutions optimize and manage working capital more effectively. The partnership comes in response to growing interest from Sri Lankan banks and financial institutions seeking advanced digital solutions to modernize their operations.
Commenting on the collaboration, Arthur Senanayake, Chairman of IWS Holdings, said, “Sri Lanka’s banking and financial sectors are poised for digital acceleration. Our partnership with Veefin reflects our commitment to introducing cutting-edge global technology to Sri Lanka. We believe this launch will empower local financial institutions to compete on a global stage.”
Veefin has already established a strong presence across Asia, Africa, and the Middle East, and is currently working with India’s Ministry of Finance to launch the PSBXchange, the world’s largest unified Supply Chain Finance ecosystem. This platform will serve as a common technology bridge connecting lenders and borrowers across India.
Raja Debnath, Chairperson and Managing Director of Veefin Group, emphasized the significance of the Sri Lankan market, stating, “Sri Lanka is at the cusp of a digital finance revolution. With over 40% of SMEs currently unserved by formal financial institutions, and MSMEs contributing more than 50% to the country’s GDP, our platform is designed to empower banks and lenders to efficiently serve these vital segments with scalable, fully digital solutions.”
Early discussions with several leading Sri Lankan banks have already begun, with strong interest expressed in Veefin’s offerings. While specific names remain confidential due to non-disclosure agreements, the enthusiasm signals a promising future for digital collaboration in the region.
