New Delhi, Mar 27 (KNN) Ujjivan Small Finance Bank (Ujjivan SFB) has forged a strategic partnership with Veefin Solutions Ltd, a leading fintech company, to bolster supply chain finance offerings for micro, small, and medium enterprises (MSMEs).

This collaboration aims to address the persistent working capital needs of this crucial sector, thereby fostering inclusive growth.

By leveraging Veefin's cutting-edge platform, Ujjivan SFB seeks to provide comprehensive, end-to-end solutions that will bridge the credit gap faced by MSMEs, a segment that has long been underserved by traditional financing channels.

The bank believes that this alliance will not only enhance credit accessibility for MSMEs but also strengthen its digital offerings tailored specifically for this sector.

Ittira Davis, Managing Director & CEO, Ujjivan Small Finance Bank, expressed enthusiasm for the partnership, stating, "We are delighted to join forces with Veefin Solutions, which will enable us to further enhance the credit accessibility needs of MSMEs, thereby strengthening our digital MSME offerings.”

“This association will help us build on operational efficiency, empowering more MSMEs to chart their growth path," he added.

Raja Debnath, Managing Director, Veefin Solutions Ltd, echoed the sentiment, highlighting the pivotal role played by financial institutions like Ujjivan SFB in expanding the supply chain finance (SCF) ecosystem.

"Together, we are poised not only to broaden the SCF landscape but also to drive inclusive growth, reaching even the most marginalized segments of our economy," he said.

The collaboration underscores the commitment of both entities to leverage technology and innovative solutions to address the long-standing challenges faced by MSMEs in accessing timely and affordable credit.

(KNN Bureau)