Eduvanz, an educational loan provider, has announced that it has raised Rs 50 crore in debt in March 2022. The company claimed to have onboarded new lenders including Oxyzo and Unifi AIF in addition to the existing lenders, MAS and Vivriti.
The company claims that it has been recently rated as BBB Stable by CRISIL, reflecting adequate capitalization metrics of Eduvanz for the current scale of operations.
Eduvanz has raised Rs. 50 crore in debt in March 2022
“Our loan disbursements have almost doubled in FY22 at INR 337 crore as against INR 195 crore in FY21. This is a clear sign for us to continue our efforts towards making education across levels in India, far more accessible and affordable,” Varun Chopra, co-founder, CEO, Eduvanz said.
The company has claimed that it had total assets under management (AUM) of Rs 288.4 crore as of December 2021 and going forward, intends to have 70% of the AUM on an off-balance sheet, as against the current 62%.