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Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra
Inc42
·
23d ago
Medial
Varthana, an education-focused NBFC, raised INR 159 crore in debt from BlueEarth Capital, Franklin Templeton Alternative Investments, and responsAbility. The funding aims to expand affordable schools and enhance sustainable infrastructure across India. The investment includes non-convertible debentures worth INR 65 crore from responsAbility, INR 69 crore in external commercial borrowings from BlueEarth Capital, and INR 25 crore from Franklin Templeton. Varthana's FY24 net profit increased nearly sixfold to INR 30.9 crore.
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NBFC Varthana secures Rs 159 Cr in debt funding
Entrackr
·
23d ago
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.
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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 $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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NBFC Varthana secures $15 Mn from BlueOrchard Microfinance Fund
Entrackr
·
7m 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 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-focused NBFC Varthana secures funding from offshore impact investor
VCCircle
·
1y ago
Medial
Education-focused non-banking financial company (NBFC) Varthana has raised $10 million in funding from global impact investor BlueOrchard Finance. Varthana plans to use the funding to expand its presence and support to affordable private schools. The company provides loans to low-cost private schools for various purposes including building classrooms and teacher training. Varthana operates in 16 states and union territories in India and aims to make education accessible to over 10 million students by 2025. It has also entered the market of providing loans to high school and college students for upskilling courses.
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CredAble Nets INR 30 Cr Debt To Extend Financing Solutions
Inc42
·
1y ago
Medial
Mumbai-based fintech startup CredAble has secured INR 30 crore (about $3.6 million) in debt funding from the Small Industries Development Bank of India. The funds will be used to expand the company's operations and provide affordable financing options to micro, small, and medium enterprises (MSMEs) as well as women-led businesses in India. Earlier this year, CredAble raised $9 million (around INR 75.2 crore) from Axis Bank and OAKS Asset Management to fuel its growth strategy and offer credit solutions to SMEs and larger corporations.
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Northern Arc Unveils INR 1,500 Cr Fund To Back 45-55 Entities
Inc42
·
9m ago
Medial
- New fund will have an additional green shoe option of INR 500 Cr - Approximately 45-55 entities will be backed with an average ticket size of INR 40 Cr - The fund will invest across six segments: MSME financing, affordable housing, vehicle finance, agriculture finance, microfinance, and consumer finance
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Varthana raises $3 Mn from Triodos Investment Management
Entrackr
·
1y ago
Medial
Non-Banking Finance Company (NBFC) Varthana has raised $3 million (Rs 27 crore) in funding from Triodos Investment Management through non-convertible debentures (NCD). The proceeds will be used to further expand its reach and support more schools and students in upgrading their infrastructure, facilities, and educational foundation. Established in 2013 by Steve Hardgrave, Varthana Finance operates as a non-banking finance company (NBFC), that provides credit to low-budget private schools and students pursuing higher education in India. It operates across 15 states, catering to more than 8,500 schools and benefiting four million students. The company claims to have disbursed over 15,000 loans and established partnerships with more than 750 loan institutions. The Bengaluru-based school finance company experienced a decline in scale over the last two fiscal years. The revenue dropped from Rs 211 crore in FY21 to Rs 190 crore in FY22, and further decreased to Rs 183 crore in FY23. Netherland-based Triodos Investment Management focuses on food, resource, energy, societal and wellbeing. It operates globally as an impact investor and is a wholly owned subsidiary of Triodos Bank NV.
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Traveltech Startup The Hosteller Nets INR 32 Cr From V Cube Ventures, Others
Inc42
·
11m ago
Medial
Traveltech startup The Hosteller has secured INR 32 Cr (approximately $4 Mn) in a funding round led by V Cube Ventures SA. The funding will be utilized to scale up the company's business operations. Participating in the round were LV Angel Fund, Unit E Consulting LLP, and a number of angel investors.
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