🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

NBFC Varthana secures Rs 159 Cr in debt funding

EntrackrEntrackr · 2d ago
NBFC Varthana secures Rs 159 Cr in debt funding
Medial

Varthana, an education-focused Non-Banking Finance Company (NBFC), has secured a debt investment totaling Rs 159 crore through External Commercial Borrowing (ECB) and Non-Convertible Debentures (NCD) instruments. The combined amount is from three different global investors (including impact investors): BlueEarth Capital, Franklin Templeton Alternative Investments (Franklin Templeton AIF), and ResponsAbility. The total investment includes Rs 69 crore from BlueEarth Capital, Rs 65 crore from ResponsAbility, and Rs 25 crore from Franklin Templeton AIF. Prior to this, the Bengaluru-based company had raised $89.5 million from Omdiyar Network and others. The fresh funds will be utilized to scale the network of affordable private schools across India through innovative and enhanced access to solar and renewable energy solutions in schools, Varthana said in a press release. Co-founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana is a non-banking financial company (NBFC) that focuses on providing financial solutions to affordable private schools and students pursuing higher education. The platform offers loans for school infrastructure development, teacher training, and student education. It aims to transform affordable education in India by partnering with schools and students. Steve Hardgrave, CEO of Varthana, said, “Varthana is pleased to partner with Blue Earth Capital, Franklin Templeton AIF, and ResponsAbility in our efforts to drive impactful change in the education sector and make quality education accessible to all across India”. Over the past decade, Varthana claims to have supported over 12,000 affordable private schools and facilitated over 19,000 school loans for school expansion and renovation. With operations across 16 states and union territories, and a network of 40 branches, it also serves schools in tier II and tier III cities, making quality education accessible to underserved communities in India.

NBFC Varthana secures $15 Mn from BlueOrchard Microfinance Fund

EntrackrEntrackr · 7m ago
NBFC Varthana secures $15 Mn from BlueOrchard Microfinance Fund
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.

Kreedo secures Rs 10 Cr debt funding from Recur Club

EntrackrEntrackr · 7m ago
Kreedo secures Rs 10 Cr debt funding from Recur Club
Medial

Edtech platform Kreedo Early Childhood Solutions has secured Rs 10 crore in debt funding from Recur Club, a prominent debt marketplace for startups and SMEs. Kreedo had previously raised $4 million in Series A funding from Heritas Capital and UBS Optimus Foundation to enhance learning ecosystems. The proceeds will be deployed towards fuelling its growth and expansion plans, enhancing product offerings and scaling operations across India, Kreedo said in a press release. Co-founded in 2012 by Mridula Shridhar and Manikandan Krishnan, Kreedo provides a non-franchise solution for preschools and schools in India. Its curriculum is designed to help children develop literacy, numeracy, and other skills through play-based activities. The platform's curriculum is based on the idea that children learn best through a 'Concrete to Abstract' or 'Practical to Theory' approach. The curriculum combines indoor and outdoor games and toys to help children learn to explore and develop skills. According to the Bengaluru-based company, it focuses on improving education in over 350,000 affordable private schools across India, which cater to low-income families and charge less than Rs 30,000 annually. The company claims that it has demonstrated an impressive revenue growth rate of over 35% year-on-year for the past three consecutive years. 'It has been a pleasure working with Manikandan and witnessing Kreedo’s incredible growth journey over the past couple of years. Their intelligent approach to capital management has enabled them to hyperscale effectively while preserving significant equity.' said Eklavya Gupta, co-founder & CEO of Recur Club. Kreedo may compete directly or indirectly with other companies in this space are Kinderly, Seed Schools, Sudiksha Knowledge Solutions, Blue Blocks, Hello Kids amongst others. Recur Club is a capital platform, enabling companies to raise debt capital tailored to their business needs with a dedicated capital expert. The platform aims to deploy Rs 2,000 crore in debt funding for startups and SMEs through Recur Scale and Rs 1000 crore to MSMEs through Recur Swift in this financial year. It has backed startups such as Ustraa, Rage Coffee, Moveinsync, Keka HR, Xoxodays, and others. It competes with other debt financing platforms like GetVantage, Velocity, and Klub.

Download the medial app to read full posts, comements and news.