Edu loan firm Avanse raises Rs 800cr

TNN
Mumbai: Avanse Financial Services, a tech-driven education financing company on Thursday said that it has raised Rs 800 crore from Kedaara Capital, a leading private equity firm, to fund its strong secular growth.
Established in 2013, Avanse has financed about 3 lakh students across over 3,000 institutions and 25,000-plus courses in over 50 countries.The company had also provided growth and working capital to over 1,000 educational institutes catering to about 5-6 lakh students, a release from the company said.
The funds raised from Kedaara Capital will be used “to expand its presence and outreach to a larger number of deserving Indian students enabling them to fulfil academic aspirations and towards greater development of the Indian education ecosystem”, the release noted.
Warburg Pincus is the majority shareholder in Avanse along with IFC, the financing arm of the World Bank. According to Amit Gainda, MD & CEO, Avanse Financial Services, as the world recovered from the impact of the pandemic, there was a resurgence in the number of students seeking higher education at international locations, and the company responded by offering customised financing solutions to address unique student demands.
“The growth capital will enable us to strengthen our brand proposition, integrate digital solutions and innovate to build more depth into our product range as we work towards delivering greater stakeholder value.”