Leading fintech with an NBFC licence that is a market leader in providing low-cost EMI solutions for learning and learning-related needs, Eduvanz has announced that it has raised INR 50 crore in debt in March 2022. Existing lenders, MAS and Vivriti have taken incremental exposure which is reflective of their growing confidence in Eduvanz’s vision of becoming India’s first ecosystem for learners. In addition, the company has onboarded Oxyzo and Unifi AIF as new lenders.
Varun Chopra, Co-founder & CEO, Eduvanz, said, “Our loan disbursements have close to 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. Our in-house tech expertise has helped curate customized products for the learner-institute combination, ultimately resulting in flexibility for the user.
Further, our ability to underwrite every one of these learners has demonstrated that we are a reliable partner in each of their journeys. This has in turn showcased our confidence, and the recent CRISIL Rating reiterates that our model does have a positive impact on all our stakeholders. We are constantly working towards optimizing our capital structure by improving our creditworthiness and hence our capacity to raise debt.”