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.

Equipment

09 Jan 2026

BKT Partners All Teams in India’s Women’s T20 League

Balkrishna Industries (BKT), a global leader in the off-highway tyre market, announced its association as the Official Tyre Partner for all five teams competing in India’s premier women’s T20 championship – Mumbai Indians, Royal Challengers Bangalore, Delhi Capitals, Gujarat Giants, and UP Warriorz – for the upcoming season. This move reinforces BKT’s commitment to using sport as a platform for inclusion, opportunity, and long-term development.These partnerships reflect BKT’s belief in the transformative power of sport, particularly in advancing women’s participation and creating..

Infrastructure Energy

09 Jan 2026

Rajesh Power Secures 65 MW BESS Project in Gujarat

Rajesh Power Services has recently secured a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project in Gujarat, marking its entry into utility-scale energy storage. The company received a Letter of Intent from Gujarat Urja Vikas Nigam for the project, which will be developed at Virpore under a tariff-based competitive bidding mechanism supported by Viability Gap Funding through the Power System Development Fund.The project is expected to be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement. With the ability to supply 65 MW of power for..

Infrastructure Energy

09 Jan 2026

ONGC Forms JV with MOL for Ethane Shipping Operations

Oil and Natural Gas Corporation (Oil and Natural Gas Corporation) has recently entered the ethane shipping segment through joint venture agreements with M/s Mitsui O.S.K. Lines Ltd (Mitsui O.S.K. Lines), Japan. The agreements involve equity participation in two joint venture entities—Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited—registered at GIFT City, Gandhinagar.Under the arrangement, ONGC will subscribe to 2,00,000 equity shares of Rs 100 each in both entities, resulting in a 50 per cent equity holding in each joint venture, with the remaining stake ..