Secured lending NBFC Techfino secures Rs 65 crore funding
Founded in 2019, Techfino had raised around Rs 18 crore till now from DCB Bank and others. Techfino was started by three senior bankers, Rajesh Panda, Ratikanta Satpathy and Jayaprakash Patra, who worked with the likes of Standard Chartered Bank, HDFC Bank, ICICI Bank and Bajaj Finance.
Techfino started with funding fees for coaching classes and school fees, higher education and upskilling courses. The company has recently started offering loans against property to small business establishments as its second line of product. The plan is to scale up this second line of business in the coming months, tapping into the growing demand for small business loans.The company has a book of Rs 225 crore, which it wants to scale up to Rs 350 crore, with Rs 200 crore AUM being built in the LAP portfolio. For the secured loan business, Techfino leverages a branch-led model in states across Karnataka, Andhra Pradesh, Madhya Pradesh and Gujarat. It has 30 branches currently, which the company wants to double by FY26.'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.
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.
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