Mumbai: DCB Bank Limited, a new generation private sector bank announced today that it has acquired a minority equity stake of approximately 9% in Techfino Capital Private Limited (TCPL). Techfino is a Bengaluru based Non-Banking Financial Company (NBFC) which using its modern technology platform provides customised consumer loans in Education and Healthcare sectors. It is present in key metros and tier II cities across India.
Speaking on the occasion Mr. Narendranath Mishra, Head Agri and Inclusive Banking, DCB Bank said, “DCB Bank & 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.”
Mr. 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 solution to its customers. Together, we aim to create a win-win ecosystem, offering our customers a bouquet of customized financial solutions using TCPL’s robust technology platform.” The funds raised will be used in enhancement of current tech stack apart from on-lending to customers.