DCB Bank acquires equity stake in Techfino Capital

Bengaluru: DCB Bank Limited announced on Wednesday that it has acquired a minority equity stake of approximately nine per cent in Bengaluru-based non-banking financial company Techfino Capital Private Limited (TCPL). Techfino provides customised consumer loans in education and healthcare sectors, and is present in key metros and tier II cities across India, the private sector bank said in a statement.

Financial details of the transaction were not disclosed.

"The funds raised will be used in enhancement of current tech stack apart from on-lending to customers," the statement added.