Veefin Solutions Ltd.'s stock price rose 5% after the company reported adding 'Metalbook', a full-stack technology-enabled player for the metals industry, to its customer portfolio. The company announced that Metalbook has a network of over 1,100 suppliers and buyers across the global metals industry. The platform streamlines the process of purchasing, selling, customizing and recycling metals, and addresses structural inefficiencies in the metal industry's supply chain, it said.
Veefin Solutions integrates its supply chain finance (SCF) platform into Metalbook's network to facilitate financing from multiple lenders, eliminates the need for one-to-one integration, and saves significant resources The company said it can.
Raja Debnath, Managing Director, Veefin Solutions Ltd. Veefin's integration into Metalbook's platform will allow customers with varying risk profiles to access financing at competitive interest rates by leveraging multiple lenders connected to the platform. It will be. There is strong interest from other markets for similar embedded SCF solutions, and many such programs will emerge in the near future. ”
At the time of the BSE announcement, the share price was up 5% to £337.15 as of 2.33pm.
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