India, Oct. 1 -- Listed fintech SaaS company Veefin's board on Tuesday (September 30) approved a proposal to merge its two subsidiaries - GlobeTF Solutions and Estorifi Solutions - with the parent entity, Veefin Solutions Ltd., to consolidate operations.

In its filing with the BSE, the company said that the move will enable it to leverage combined assets, reduce managerial overlaps, enable cost savings, eliminate duplication, strengthen governance, align interests with minority shareholders and enhance investor value.

While GlobeTF offers a comprehensive transaction banking suite for banks and other financial institutions, Estorifi's tech stack connects corporates and SMEs to banks and NBFCs for their working capital needs.

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