Bengaluru-based NBFC Techfino has raised ₹65 crore in a fresh equity round led by Stellaris Venture Partners and Saison Capital, the venture arm of Tokyo-listed Credit Saison. This capital infusion marks a major step in Techfino’s mission to strengthen financial access for micro and small enterprises (MSEs) in India’s underserved regions.
The startup, founded in 2019 by former banking veterans Rajesh Panda, Jayaprakash Patra, and Ratikant Satapathy, operates across two core lending verticals: education financing and secured loans against property (LAP) for small business owners. With a sharp focus on tier 2 and 3 cities, Techfino is now doubling down on MSME lending.
The newly raised funds will be deployed to expand physical branches from 30 to 60, hire across key roles, and enhance its proprietary credit scoring system tailored to India’s fragmented rural income landscape.
“Our focus has always been profitable growth, backed by strong asset quality,” said Co-founder Rajesh Panda. “This equity raise will help us accelerate our branch-led distribution and bring LAP financing to more small retailers, dairy farmers, and informal businesses.”
With an AUM of ₹225 crore, including ₹100 crore in LAP loans, Techfino disburses over ₹10 crore monthly and is targeting double that amount by year-end. What sets them apart is their household income-based underwriting model, which evaluates earnings from multiple family members to give a more accurate credit picture—something traditional banks often miss.
Co-founder Ratikant Satapathy added, “Our tech stack is built for speed and accuracy. We’ve integrated APIs for banking, property, and legal data, enabling us to serve rural borrowers with fintech-level efficiency.”
With over 1 lakh loans disbursed and partnerships with institutions like Manipal and Amity, Techfino is quietly building a scalable, inclusive credit engine. This latest round signals their intent to lead the next wave of rural-focused lending in India.
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