Shivalik Small Finance Bank raises Rs 111 crore from Quona Capital, Accel and Bharti AXA Life Insurance

Announcing the equity raising Wednesday, the bank said it plans to use the funding to enhance its tech stack, strengthen its team, and deepen partnerships to boost its lending to small and medium size businesses. Noida-based Shivalik is the first small finance bank in India to have transitioned from an urban cooperative bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/1aMHKyw