Shivalik SFB raises Rs.111-Cr from Accel, Quona Capital, Bharti AXA Life Insurance

Noida-based Shivalik Small Finance Bank has raised INR 111 crore from Accel IndIa and Quona Capital as well as Bharti AXA Life Insurance. The bank, which transitioned from an urban cooperative bank, has over 5.6 lakh customers and operates through 46 branches and 21 exclusive Business Correspondent branches across northern India. The bank would use the funds to enhance its tech stack, strengthen its team, and deepen partnerships.