DCB Bank Limited announced on Wednesday that it has acquired a minority equity stake of approximately 9 percent in Bengaluru-based nonbanking financial company Techfino Capital Private Limited (TCPL).

Techfino provides customised consumer loans in the 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 the enhancement of current tech stack apart from on-lending to customers,” the statement added.

First Published:Apr 21, 2021 12:38 PM IST