Techfino, a tech-based non-banking financial company (NBFC), said it has raised Rs 65 crore in fresh funding from venture capital firm Stellaris Venture Partners and Saison Capital, the venture arm of Tokyo-listed Credit Saison.

The Bengaluru-based company will use the capital to double its branch network from 30 to 60 branches in the next 12 months, boost its team and upgrade its proprietary technology platform.

Techfino, which was founded in 2019 by Rajesh Panda, Jayaprakash Patra and Ratikant Satapathy, operates two business verticals: unsecured education loans through a B2B2C model, and a secured MSME lending business.

Panda said that the company has been profitable since its first full year of operations and that its strength has been on its "tight grip on asset quality".

“We’ve already crossed Rs 100 crore AUM in secured loans and are disbursing over Rs 10 crore every month. With this funding, we expect to double that monthly run-rate,” added Panda. 

In 2021, private lender DCB Bank had acquired a 9% stake in Techfino.