DCB Bank acquires minority stake in Techfino Capital
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DCB Bank Limited, a private sector bank, has acquired a minority equity stake of about 9 per cent in Bengaluru-based non-banking financial company (NBFC), Techfino Capital Private Limited (TCPL).
The funds raised by TCPL will be used in enhancement of current tech stack apart from on-lending to customers. Techfino provides customised consumer loans in education and healthcare sectors. It is present in key metros and tier II cities across India.
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Narendranath Mishra, Head, Agri and Inclusive Banking, DCB Bank, said, “DCB Bank and TCPL are delighted to be associated in this manner. Micro loans or granular loans as a financial solution hold much promise. We value each other’s experience and expertise to build a granular loan portfolio with patience and nuance. DCB Bank and Techfino complement each other’s strengths, and this is an opportunity for both organisations to grow the customer franchise.”
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Jayaprakash Patra, Co-Founder Director, Techfino Capital Private Limited, added, “The association with DCB Bank is an important milestone. It shall help in the growth of the business as TCPL goes about providing financing solutions to its customers. Together, we aim to create a win-win ecosystem, offering our customers a bouquet of customised financial solutions using TCPL’s robust technology platform.”
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