DCB Bank acquires 9% stake in NBFC Techfino Capital

DCB Bank Ltd has recently said that it has acquired a 9% stake in 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, DCB Bank, said, “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.”

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,” remarked Patra.