Education-Focussed NBFC Varthana Raises INR 27 Cr from Triodos Investment Management The raised funds will allow the Bengaluru-based platform to expand its reach and support more schools and students in improving their facilities, infrastructure, and educational foundation, according to the official statement.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Varthana, a leading non-banking finance company (NBFC) in the education sector, has announced the raising of INR 27 crore in funding from Netherlands-based Triodos Investment Management through non-convertible debentures (NCD).
The fund, which comes from the Triodos Fair Share Fund, will allow Varthana to expand its reach and support more schools and students in improving their facilities, infrastructure, and educational foundation, according to the official statement.
Steve Hardgrave, Co-founder and CEO of Varthana, said, "The funding provided to Varthana reflects a shared vision of driving positive social impact and the importance of innovative financing solutions in addressing the challenges faced by the education sector. This investment reaffirms our commitment to making quality education accessible to all and will fuel our efforts to empower more educational institutions across the country."
Established in 2013, Varthana is a school funding provider in India, offering loans to meet the development needs of affordable private schools. It is also serving domestic students attending college, technical training/short-term courses, and postgraduate studies by providing them with loans to continue education.
The Bengaluru-based platform claims to have a presence in 16 states and union territories through 40 branches and 150 spokes. It has financed more than 11,000 affordable private schools and facilitated over 16,500 loans for school expansion and renovation.
It also extends its services to Tier III and Tier IV cities, contributing to fostering accessible education in India.
Dorian Marquer, Head of Corporate Debt Asia/ECCA Triodos Investment Management, added, "This investment shows that financial inclusion also plays a role in addressing other pressing issues, such as access to affordable quality education, which is seen as a key pillar to alleviate poverty. Education is an empowering force in the world, and Varthana plays a very important role in equipping children across India with the qualities and skills to shape and build their future."
