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Bengaluru-based NBFC Techfino has raised Rs 65 crore (around $7.5 million) in funding from Stellaris Venture Partners and Saison Capital, the venture arm of Credit Saison.
The proceeds will be used to expand its branch network, enhance its technology platform, and scale its secured MSME lending business.
Techfino offers Loan Against Property (LAP) to MSMEs in tier II and III cities using a branch-led model. It operates in Karnataka, Gujarat, Madhya Pradesh, and Andhra Pradesh. It also provides education loans through a B2B2C model by partnering with educational service providers.
Founded by Jayaprakash Patra (ex-ICICI Bank, ING), Rajesh Panda (ex-Standard Chartered), and Ratikant Satapathy (ex-Bajaj Finance), Techfino uses its in-house technology platform for underwriting and collections. The platform integrates external APIs to verify borrower data and improve risk assessment.
The company claims to have disbursed over 1 lakh loans and crossed Rs 200 crore in assets under management (AUM). It has been profitable since inception and plans to double its number of branches this year while expanding disbursements and secured lending.
The firm expects to expand operations and build a sizable LAP portfolio over the next 3–5 years.
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