DCB BANK ACQUIRES 9% STAKE IN NBFC Techfino CAPITAL

Updated: 21 Apr 2021, 01:19 PM IST

Mumbai: Private sector lender DCB Bank Ltd on Wednesday said ithas acquired a 9% stake in Bengaluru-based non-bank financier Techfino Capital Pvt Ltd. The bank did not disclose the financial details of the transaction.

Techfino, which is present in key metros and tier II cities across India, uses its technology platform to provide customized consumer loans in education and healthcare sectors, the bank said in a statement.
Narendranath Mishra, head of agri and inclusive banking at DCB Bank, said “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 organizations to grow the customer franchise,” said Mishra.

According to Jayaprakash Patra, co-founder, Techfino Capital, the association with DCB Bank will help in the growth of the business. “Together, we aim to create a win-win ecosystem, offering our customers a bouquet of customized financial solutions using TCPL’s robust technology platform,” said Patra.

Techfino plans to enter into the value chain and eco-system of education and healthcare funding with small to medium term loans over two-three years’ timeframe, DCB Bank said in the statement. The non-bank lender was founded by Jayaprakash Patra, Rajesh Panda and Ratikanta Satapathy and its promoter directors each have more than 20 years of banking experience in leadership positions, across banks and NBFCs.