Techfino Raises Rs 65 Crore in an Equity Funding Round
Bengaluru-based non-banking finance company Techfino has raised Rs 65 crore in an equity funding round led by Stellaris Venture Partners and Saison Capital, which is the venture arm of Japanese consumer finance major Credit Saison.
Established in 2019, Techfino has gathered approximately Rs 18 crore to date from DCB Bank and other sources.
Techfino was founded by three experienced bankers, Rajesh Panda, Ratikanta Satpathy, and Jayaprakash Patra, who were associated with firms such as Standard Chartered Bank, HDFC Bank, ICICI Bank, and Bajaj Finance.
Techfino began by offering funding for coaching classes, school tuition, higher education, and skill enhancement courses.
The business has recently begun providing loans secured by property to small enterprises as its secondary product line.
The strategy is to expand this secondary business line in the upcoming months, leveraging the increasing need for small business loans.
The firm possesses a portfolio of Rs 225 crore and aims to increase it to Rs 350 crore, with Rs 200 crore AUM being developed in the LAP segment.
In the secured loan sector, Techfino employs a branch-led approach in regions throughout Karnataka, Andhra Pradesh, Madhya Pradesh, and Gujarat. The company currently has 30 branches, which it aims to double by FY26.
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“We will offer loans in the range of Rs 8 to 12 lakh, typically looking for self-occupied property, catering to the needs of small shopkeepers, traders,” said Ratikanta Satpathy, cofounder, Techfino.
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From the current base of around 400 employees, Techfino wants to scale up its branch presence and also increase its headcount to around 600 by the end of this year. The firm closed FY25 with a total revenue of Rs 34 crore and a profit before tax of Rs 1.5 crore.