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Private lender DCB Bank on April 21 announced that it has acquired a minority equity stake of about 9 per cent in Bengaluru-based non-banking financial company (NBFC) Techfino Capital Private Limited (TCPL). Apart from on-lending to customers, DCB Bank will use the funds raised by TCPL will be used in the enhancement of the current tech stack, reported Business Line.
“DCB Bank and TCPL are delighted to be associated in this manner. Microloans 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,” DCB Bank’s Agri and Inclusive Banking head Narendranath Mishra said.
TPCL Co-Founder Director Jayaprakash Patra said that the association will 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 customized financial solutions using TCPL’s robust technology platform,” he added. Earlier this week, DCB Bank received approval from the Reserve Bank of India (RBI) for the re-appointment of Murali M. Natrajan as the Managing Director & CEO, for a further period of one year from April 29, 2021.
