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Varthana raises $3 Mn from Triodos Investment Management

EntrackrEntrackr · 1y ago
Varthana raises $3 Mn from Triodos Investment Management
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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CLR Facility Services raises $15 Mn from BII

EntrackrEntrackr · 1m ago
CLR Facility Services raises $15 Mn from BII
Medial

CLR Facility Services raises $15 Mn from BII Integrated facility management company CLR Facility Services has raised $15 million (approximately Rs 125 crore) from British International Investment (BII), the UK’s development finance institution and impact investor. The proceeds will be used to support CLR’s expansion across India, scale its integrated facility management operations, invest in vocational training, and enhance ESG practices. Founded in Pune, CLR provides services such as cleaning, engineering, mechanical maintenance, and production support to corporate clients. It currently employs over 20,000 blue-collar workers and operates across nine states. “This investment will empower us to create more opportunities for our workforce, drive innovation in facility management, and extend our impact across new markets,” said Gaurav Pathak and Gautam Pathak, promoters and directors of CLR Facility Services. The company plans to more than double its workforce to 50,000 in the next five to seven years, with a focus on employing more women and individuals from underserved communities. It will also build training centres in tier-II cities to skill untrained and semi-skilled workers. CLR is known for its structured skilling and employment model, with 25% of its workforce being women. In 2018, it received its first institutional investment from First Bridge Investment Managers. The company serves over 160 clients and competes with players such as BVG India, UDS, and ISS Facility Services in the facility management space.

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.

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