DCB Bank Ltd. acquires stake in Techfino Capital Private Limited – India Education | Latest Education News India | Global education news
Mumbai: DCB Bank Limited, a new generation private sector bank, announced today that it has acquired a minority stake of approximately 9% in Techfino Capital Private Limited (TCPL). Techfino is a Bengaluru-based non-bank finance company (NBFC) that, using its modern technology platform, provides personalized consumer loans in the education and healthcare sectors. It is present in key metros and Level II cities across India.
Speaking on the occasion, Mr. Narendranath Mishra, Head of Agricultural and Inclusive Banking, DCB Bank said: “DCB Bank and TCPL are delighted to be associated in this way. Microcredits or granular loans as a financial solution show great promise. We value everyone’s experience and expertise to build a granular loan portfolio with patience and nuance. DCB Bank and Techfino complement each other and this is an opportunity for both organizations to develop the customer franchise. “
Mr. Jayaprakash Patra, Co-Founder and Director of Techfino Capital Private Limited added: “The association with DCB Bank is an important step. It will contribute to the growth of the business as TCPL strives to provide a financing solution to its customers. Together, we aim to create a win-win ecosystem, offering our clients a bouquet of personalized financial solutions using TCPL’s robust technology platform. The funds raised will be used to improve the current technology stack, apart from on-lending to customers.