Varthana Secures $3 Million in Funding to Empower Schools and Students

Varthana Finance
Preeti Bali / 7:53 am / May 21, 2024

Varthana, a prominent non-banking financial company (NBFC) specializing in education finance, has secured $3 million (Rs 27 crore) in fresh funding. The investment, provided by Triodos Investment Management through non-convertible debentures (NCDs), will empower Varthana to expand its reach and provide crucial financial support to a wider network of schools and students across India.

Fueling Growth and Expanding Educational Opportunities

The newly acquired funds will be strategically channeled towards furthering Varthana’s mission. The company aims to broaden its geographical footprint and offer its financial services to a greater number of educational institutions. This will enable more schools, particularly low-budget private schools, to improve their infrastructure, facilities, and overall educational offerings. Ultimately, these advancements will benefit a larger student population, fostering a stronger educational foundation for millions of young minds.

A Legacy of Empowering Education

Founded in 2013 by Steve Hardgrave, Varthana has established itself as a leading player in the Indian education finance sector. The company bridges the financial gap by providing credit facilities to low-budget private schools and students seeking higher education. Varthana’s extensive network spans across 15 states, serving more than 8,500 schools and directly impacting the lives of over four million students. It boasts a commendable track record, having disbursed over 15,000 loans and forging partnerships with more than 750 loan institutions to widen its reach and effectiveness.

About Triodos Investment Management: A Partner in Impact Investing

Triodos Investment Management, the investor behind Varthana’s recent funding, is a Netherlands-based firm with a global presence. As an impact investor, Triodos prioritizes investments that generate positive social and environmental outcomes alongside financial returns. Operating as a wholly owned subsidiary of Triodos Bank NV, Triodos Investment Management aligns perfectly with Varthana’s mission of promoting educational equity and opportunity in India.

Despite facing a slight decline in revenue over the past two fiscal years (from Rs 211 crore in FY21 to Rs 183 crore in FY23), Varthana’s unwavering commitment to educational development remains strong. With this new injection of capital and a dedicated partner in Triodos Investment Management, Varthana is poised to make a significant and lasting impact on the Indian education landscape.


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