Varthana Finance, claimed to be the largest school loan company and the fastest growing student loan company has raised $14 million to expand financial assistance to a wide network of affordable private schools across the country.
Founded in 2013, the Bengaluru based firm operates in 16 states and union territories, with 40 branches and 150 spokes, offering affordable education in India by providing financial assistance and academic support to affordable private schools.
So far, the school and student loan provider had served 4 Million+ students till date and has set a target to transform 10 million lives by 2025.
“Varthana has led efforts to bridge the access to quality education for low- and middle-income populations through financial support to budget private schools of India. With this investment, we aim to aspire more young minds in India for a better tomorrow,” says Steve Hardgrave, the finance firm CEO stated.
Varthana Finance sets ambitious growth target in student loans market play
Varthana claims to have extended financial support to over 9,500 private schools over the past decade,, facilitating over 15,000 loans for school expansion and renovation. It also provided services to Tier III and Tier IV cities, making contributions to promote accessible education in India.
“We are excited to continue supporting Varthana, which has been a strong partner delivering unique high-impact social outcomes while demonstrating strong resilience throughout different market conditions. Today’s follow-on investment will empower the firm to expand its support to a wider network of affordable private schools as it resumed growth trajectory post COVID-19 pandemic,” said Amy Wang, Head of Private Credit at Blue Earth Capital.
Funds and partnerships managed by Blue Earth have collectively invested in Varthana.
