Classplus and Pravega to lead $6 Mn round in GyanDhan

Entrackr · 15h

GyanDhan, a platform in the education-finance space, is in the final stages of securing a funding round worth approximately $6 million. Pravega Ventures and Classplus are jointly leading the funding round. A few of GyanDhan’s existing investors are also expected to take part. Gray Matters Capital, Sundaram Finance, and individuals such as Satyen Kothari, Paula Mariwala, and Pravin Gandhi are early backers of the company. GyanDhan has facilitated over Rs 7,000 crore ($840 million) in cumulative loan originations and has established an on-ground presence across 30 cities in India. Founded in 2015 by Ankit Mehra and Jainesh Sinha, GyanDhan is eyeing a valuation of around $15-20 million. Regulatory filings reveal that Classplus and Pravega have already invested Rs 20 crore ($2.33 million) and Rs 10 crore ($1.16 million) respectively, with the remainder of the $6 million round expected to be finalized shortly. GyanDhan has seen rapid growth over the past few years. In FY24, the company posted an operating revenue of Rs 21.4 crore along with a profit of Rs 1.36 crore. Pravega has previously invested in a handful of edtech-focused ventures, while Classplus—a B2B edtech platform—has built a diverse portfolio of educational startups.