Techfino Raises Rs 650 Mn to Boost MSME Lending

23 Jun 2025 CW Team

The company currently provides Loan Against Property (LAP) to MSMEs in Tier II and Tier III cities through a branch-led distribution model across Karnataka, Gujarat, Madhya Pradesh, and Andhra Pradesh. It also operates in the education finance space using a B2B2C model, collaborating with education service providers.

Founded in 2019 by Jayaprakash Patra (formerly of ICICI Bank and ING), Rajesh Panda (ex-Standard Chartered), and Ratikant Satapathy (ex-Bajaj Finance), Techfino offers MSME loans with average ticket sizes ranging from Rs 800,000 to Rs 1.2 million.

Commenting on the funding, Co-founder Rajesh Panda said, “Of the 64 million registered MSMEs in India, nearly 39 million are excluded from the formal credit ecosystem. This underserved segment, particularly in rural and semi-urban areas, is estimated to generate a quarterly credit demand of Rs 2 trillion. With limited participation from banks and large NBFCs, we are leveraging our risk expertise, in-house collections, and strong technology backbone to fill this gap.”

Fellow Co-founder Ratikant Satapathy added, “Our internally developed tech platform integrates with various external APIs, allowing real-time data access and verification. This has enhanced our underwriting process, improved efficiency, and significantly reduced turnaround time.”

To date, Techfino has disbursed over 100,000 loans and surpassed Rs 2 billion in assets under management (AUM). The company now plans to double its branch network in 2025, accelerate disbursements, and build a strong secured lending portfolio over the next three to five years.

Techfino, a technology-enabled non-banking financial company (NBFC), has raised Rs 650 million in funding from Stellaris Venture Partners and Saison Capital, the venture arm of Tokyo-listed Credit Saison. The fresh capital will be used to expand Techfino’s branch footprint, strengthen its technology platform, and scale its secured lending operations, particularly targeting micro, small, and medium enterprises (MSMEs).The company currently provides Loan Against Property (LAP) to MSMEs in Tier II and Tier III cities through a branch-led distribution model across Karnataka, Gujarat, Madhya Pradesh, and Andhra Pradesh. It also operates in the education finance space using a B2B2C model, collaborating with education service providers.Founded in 2019 by Jayaprakash Patra (formerly of ICICI Bank and ING), Rajesh Panda (ex-Standard Chartered), and Ratikant Satapathy (ex-Bajaj Finance), Techfino offers MSME loans with average ticket sizes ranging from Rs 800,000 to Rs 1.2 million.Commenting on the funding, Co-founder Rajesh Panda said, “Of the 64 million registered MSMEs in India, nearly 39 million are excluded from the formal credit ecosystem. This underserved segment, particularly in rural and semi-urban areas, is estimated to generate a quarterly credit demand of Rs 2 trillion. With limited participation from banks and large NBFCs, we are leveraging our risk expertise, in-house collections, and strong technology backbone to fill this gap.”Fellow Co-founder Ratikant Satapathy added, “Our internally developed tech platform integrates with various external APIs, allowing real-time data access and verification. This has enhanced our underwriting process, improved efficiency, and significantly reduced turnaround time.”To date, Techfino has disbursed over 100,000 loans and surpassed Rs 2 billion in assets under management (AUM). The company now plans to double its branch network in 2025, accelerate disbursements, and build a strong secured lending portfolio over the next three to five years.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..