Education-focused non-banking financial (NBFC) company Avanse Financial Services Ltd has successfully raised Rs 1,000 crore to invest in its growth plans that involves expanding market share in the education financing sector, improve customer experiences and maintain sustained growth.
Amit Gainda, Managing Director and CEO, Avanse Financial Services said “We are delighted to welcome our new strategic investors, who share a common vision of strengthening the education financing segment in India. Along with them, we also appreciate the constant support of our existing shareholders, Warburg Pincus, Kedaara Capital, and the International Finance Corporation,”
Founded in 2013, Avanse Financial Services Limited is a Non Banking Financial Company that provides affordable education financing for Indian students. Its student loans offer financing solutions for students’ entire education lifecycle, including loans for higher education abroad, in India, and skill enhancement loans.
“They not only have recognised the profound impact of making education financing accessible and affordable but also believe in our brand ethos and our core belief that no deserving student should miss an opportunity to access quality education due to the lack of financing, irrespective of their social strata or co-borrower’s financial background,” Gainda added.
Avanse Financial AUM records ₹12,147Cr
Narendra Ostawal, Managing Director and Head of India, Warburg Pincus commented “Avanse’s AUM (assets under management) is Rs 12,147 crore as on December 2023. “Avanse, driven by its vision to democratise education in India, has transformed into one of India’s premier education finance companies. We are thrilled to collaborate with Mubadala Investment Company as Avanse continues to advance its long-term objectives.”
The Funding round was led by Abu Dhabi-based Mubadala Investment Company and Avendus PE Investment Advisors Private Limited through its fund Avendus Future Leaders Fund II.
