- Upskilling & Certification programmes exhibit high growth potential in the next 5-10 years
- Education Personal loans remain a key ingredient for driving financial inclusion, apart from augmenting and creating jobs in our country
HYDERABAD, India, July 14, 2022 /PRNewswire/ — TechFino Capital Private Limited (TechFino), a registered NBFC, is disbursing over INR 15 crore of Education loans per month, of which, Upskilling & Certification programmes are showing great promise in the future. TechFino is engaged in providing end-use defined short-term consumer loans in the Education and Healthcare segment through a robust Technology platform.
TechFino is adding around 2,000 quality customers monthly, slated to grow to > 3,000 in the next few months. More than 25,000 loans have been disbursed since starting their commercial operations, with an aggregate loan value of more than INR 180 crore. The company has shown exceptional commitment with a collection efficiency of over 99% and profitability for the last 24 months. The company has delivered a healthy Return on Equity (ROE) of over 20% while maintaining a solid portfolio quality. Recently the company disbursed loans worth INR 100 crore across all its portfolios in FY 2021-22. TechFino’s prudent business practices and focus on building a quality portfolio saw lenders coming in early, even when they were small. DCB Bank has acquired an equity stake in the company.
In the EDUCATION space, TechFino has partnered with leading Education providers, including EdTech companies, and provides unsecured loans to end-users towards School Fees, Upskilling and Certification Programmes, Test Preparations; K12 after-school; Coaching and Higher Education. With a presence across India, TechFino works with more than 60 Education Service Providers to help extend financing solutions to their learners.
In the HEALTHCARE space, TechFino has partnered with companies and leading healthcare service providers to support treatment related to Wellness, Elective processes associated with, Diabetic management, IVF, Hair, and Skin; Dental; and Weight management programs, etc.
Speaking on his company’s performance, Rajesh Panda, Co-Founder and Director, TechFino Capital, said, “We understand the business, the market and the risks involved in each of our segments, and hence it was a conscious decision to build a brand which would play a significant role in helping people fulfil their aspirations. Our business practices focus on compliance, and risk management is in our team’s DNA. We ensure that our customers can access loans within minutes, with an average TAT of 10 mins for processing a loan using our proprietary technology platform, enabling us to do just that.”
Known for its customer-centric approach and the easy loan process, TechFino has over 25,000 borrowers who have fulfilled their aspirations. The company uses a robust, intuitive, and fully automated Tech platform to simplify the customer lifecycle and partner experience process. The loan approval process is digital, and over 80% of it is disbursed on the same day.
About TechFino Capital Pvt Ltd
TechFino Capital Private Limited (TechFino) is an RBI registered Non-Banking Financial Company (‘NBFC’) that provides end-use ensured, short-term consumer loans in the education and healthcare sectors. It is registered with the Reserve Bank of India as Type II – Non-Deposit taking NBFC-ND and is functional in all major Tier I and Tier-II cities.
TechFino was started by Jayaprakash Patra, Rajesh Panda and Ratikanta Satapathy. It is a Technology driven NBFC and works on a B2B2C model, i.e. credit facility is provided to end-users/borrowers who are sourced through its partners. The Promoter Directors have more than 60 years of combined experience in senior leadership positions across MNCs and Private Banks / NBFCs.
For more details, please visit www.techfino.in
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