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Edu NBFC Avanse Financial Services raises Rs 390 Cr funding

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Avanse Financial Services, education-focused non-banking financial company, announced on Thursday that it has raised Rs 390 Cr funding. The funding has been raised from its existing shareholders, Warburg Pincus, a leading global private equity firm, through its affiliate Olive Vine Investment Ltd. and International Finance Corporation (IFC), an arm of World Bank via a rights issue. With this investment, the net worth of Avanse Financial Services stands at Rs 1,450 crores, claimed a press release from the company.

Avanse has funded about 2.5 lakh students to pursue their courses, across 3,000 institutions, spread over 50 countries. Besides helping students with educational loans, Avanse also funds educational institutions to meet their needs. It has provided financial assistance to about 1000 educational institutions till now. 

“Avanse has been on a growth trajectory by remaining focused on fulfilling the academic aspirations of millions of Indian students and strengthening the education ecosystem of the country. As of March 31, 2022, the AUM of the organisation is Rs 4,836 crores, achieving a CAGR of 22% over the last four years. The equity raised will enable Avanse to strengthen balance sheet and capital adequacy ratio. Being an education-focused organisation, we ensure that we eliminate the gap between a student’s academic aspiration and the finances involved so that they can walk on the path leading to upward mobility without depending on anyone. With the fresh round of funding we will be able to fund even more students,” said Amit Gainda, MD and CEO, Avanse Financial Services. 

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