ICICI Bank Acquires 9.65% Stake in Neo-Banking Platform Vanghee for Rs 1.1 Crore

20 Feb 2021, 1:30 pm · 2030d ago · 1 min read · indianweb2.com

Amount

₹1.1 Cr

Lead

ICICI Bank

ICICI Bank has entered into an agreement to acquire a 9.65% equity stake in Thillais Analytical Solutions Pvt. Ltd., the operator of neo-banking platform Vanghee, for a cash consideration of Rs 1.1 crore. Vanghee provides connected banking solutions and an open payment infrastructure designed to integrate directly with enterprise resource planning (ERP) and accounting software. The platform supports corporate and MSME clients with digital post-dated payment capabilities similar to paper cheques. The strategic acquisition aims to help ICICI Bank deepen digital relationships with business banking and MSME customers.