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Varthana bags ₹120 crore to expand lending portfolio
Inshorts
·
7m ago
Medial
Education-focussed non-banking financial company (NBFC) Varthana has raised ₹120 crore (around $14 million) debt from BlueOrchard Microfinance Fund. In a statement, the company said that the funding was raised through an external commercial borrowing framework. The fresh proceeds will be used to expand its lending portfolio.
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ChrysCapital-backed Varthana Finance ties up with BlueOrchard for $15 mn ECB
VCCircle
·
8m ago
Medial
Varthana Finance, backed by ChrysCapital, has secured $15 million in external commercial borrowing from impact investor BlueOrchard Finance. The funding will be used to expand Varthana's lending portfolio, providing financial support to private schools and vocational students in Tier 2 and Tier 3 cities in India. Varthana Finance aims to disburse Rs 1,600 crore in FY25 and reach an asset base of Rs 2,200 crore.
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NBFC Varthana secures $15 Mn from BlueOrchard Microfinance Fund
Entrackr
·
8m ago
Medial
Non-Banking Finance Company (NBFC) Varthana has secured $15 million (about Rs 120 crore) in funding from BlueOrchard Microfinance Fund, managed by BlueOrchard. The proceeds will be utilized to expand its lending portfolio, providing private schools and vocational students in tier II and tier III cities with essential financial support for infrastructure enhancement and skill-based learning initiatives, Varthana said in a press release. Co-founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana provides loans to affordable private schools and students pursuing domestic higher education in India. The platform aims to transform affordable education in India by catering to the needs of affordable private schools through financial assistance and academic support. It also aims to serve domestic students attending college, technical training/short-term courses, and postgraduate studies by providing them with loans to continue education. According to Varthana, it intends to bridge the education gap in India by empowering affordable education institutions and improving learning outcomes for millions of students. Through its innovative solutions, it claims to have enabled thousands of private schools to upgrade their facilities and enhance teaching standards, driving measurable improvements in student success. Varthana states that it has played a crucial role by financing more than 11,000 affordable private schools and facilitating over 16,500 loans for school expansion and renovation. With a presence in 16 states/union territories and 40 branches, it also extends its services to Tier III and Tier IV cities. The company aims to make education accessible to over 10 million students by 2025.
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Varthana raises Rs. 27 Cr to boost its education financing offerings
Inc42
·
1y ago
Medial
Education-focused NBFC, Varthana, has secured INR 27 crore (around $3.2 million) in funding from Triodos Investment Management. The funding will allow Varthana to expand its financial services to more students and schools, helping them improve their infrastructure and education standards. Varthana, which offers low-cost, collateral-free loans to private schools and students, has already financed over 11,000 private schools and provided over 16,500 loans. Triodos Investment Management, a subsidiary of Triodos Bank, believes that access to affordable quality education is crucial for poverty alleviation. The broader Indian digital lending market is expected to exceed $1.3 trillion by 2030.
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Varthana bags $14 Mn from Blue Earth Capital to provide loans to affordable private schools
Inc42
·
1y ago
Medial
Varthana, an education-focused fintech startup, has raised $14 million in funding from its existing investor Blue Earth Capital. The funds will be used to expand financial support to a wider network of affordable private schools in India. This is a follow-up investment by Blue Earth, as Varthana prepares for its Series D round. Varthana offers loans to students and low-budget private schools for digital learning tools, and aims to provide loans to over 10 million students in the country by 2025.
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Education-focussed NBFC Varthana looking at fresh funding to fuel growth
VCCircle
·
1y ago
Medial
Education-focused non-banking financial company (NBFC), Varthana Finance, plans to raise a new round of equity funding to support its growth initiatives. The company, which recently acquired the loan portfolio of one thousand private schools from the Indian School Finance Company (ISFC), aims to secure the funding required to expand its operations further. Varthana Finance specializes in providing loans to schools and educational institutions for infrastructural development and improvement.
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RupeeRedee’s NBFC FincFriends Bags $7.8 Mn In Debt & Equity
Inc42
·
1y ago
Medial
Digital lending platform RupeeRedee's non-banking finance company (NBFC) arm, FincFriends, has raised $7.8 million in a strategic funding round. InCred Finance and Grow Money Capital led the financing, injecting $3 million in equity, while APV Management contributed the remaining amount in equity and debt. The funding will be used to support FincFriends' growth, expand its product portfolio, and scale its operations. FincFriends offers digital loans and financing solutions, catering to underserved customers in India's digital lending ecosystem. Despite increased scrutiny on the sector, digital lending continues to attract entrepreneurs and investors.
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Varthana Bags $10 Mn Debt Funding To Offer Loans To Affordable Private Schools
Inc42
·
1y ago
Medial
India-based education-focused non-banking financial company Varthana has secured $10m in debt funding from impact investor BlueOrchard Finance. Varthana will utilise the funds to provide financing solutions to affordable private schools in India. Since its establishment in 2013, Varthana has financed over 11,000 schools, offering loans for expansion and renovation. The start-up aims to offer loans to more than 100 million students in the country by 2025. Varthana faces competition from similar Indian firms Leap Finance and Eduvanz in the student loan market.
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Mortgage Distribution Startup BASIC Home Loan Bags $10.6 Mn From BII, Others
Inc42
·
10m ago
Medial
BASIC Home Loan, a lending company, has raised $10.6 million in Series B funding. The funds will be used to expand its market reach, improve its technology, and grow its lending portfolio. With over $12 billion in processed loans and $1.1 billion disbursed through its network of 90 banks and financial institutions, the company plans to enter 13 new cities and focus on serving low-income borrowers in Tier 2-3 cities. This expansion strategy is expected to contribute to the company's revenue growth, which has seen significant progress in the past two years.
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Shriram Finance taps offshore investor to raise fresh capital
VCCircle
·
7m ago
Medial
Shriram Finance Ltd, a major non-banking finance company in India, is raising up to $850 million (approximately Rs 7,285 crore) to increase lending capacities. The firm has engaged an offshore investor for this capital boost. The funds will be utilized to expand lending to micro, small, and medium enterprises (MSMEs), supporting their growth and operations. This strategic financial move aims to enhance Shriram Finance's lending portfolio and reach within the sector.
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Financial services startup Kaleidofin bags $14 mn in fresh round
VCCircle
·
10m ago
Medial
Chennai-based financial services startup Kaleidofin has raised $13.8 million in an equity round, led by Rabo Partnerships B.V. The company is also expecting an additional $10 million in funding for the current financial year. The investment will be used to scale its lending portfolio and expand credit scoring and risk services through partnerships. Kaleidofin aims to provide financial solutions for low-income customers in the informal economy by combining credit health assessment, middleware rails, and risk management dashboards. It has raised $37 million since its establishment in 2017.
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