India, Sept. 15 -- Listed fintech SaaS company Veefin Solutions today received board approval to raise INR 94.1 Cr (about $11 Mn) by issuing fresh equity shares and convertible warrants.

Marking its second fundraise since listing, the company said that it will issue nearly 13 Lakh equity shares to non-promoter investors on a preferential basis at INR 390 each to raise INR 50.7 Cr. The shares will be allotted to backers like SR Global Fund, Piyush Avlani, Yayatikumar Bhatt, and 48 others.

For the equity raise, the company will increase its authorised share capital to INR 30 Cr from INR 25 Cr. This will, however, be subject to shareholder approval at its upcoming extraordinary general meeting (EGM).

At their meeting today, the company's ...