PE-VC Fund Investments
Education-focused NBFC Avanse raises Rs.1,200-Cr from existing investors
Mumbai-based, education-focused non-banking financial company (NBFC) Avanse Financial Services , has raised INR 1,200 crore through a rights issue from its existing shareholders including Warburg Pincus, Kedaara Capital, and Alpha Investment Company.Founded in 2013, Avanse provides personalised education financing solutions to students and caters to the growth and working capital needs of educational institutions in India.The fresh capital will be utilized to expand education loan disbursements, for product innovation and introduction of new financial solutions . It also aims to support digital platform enhancement, deeper institutional partnerships, identification of new growth opportunities, and further strengthening of capital adequacy of the company.
Between Feb-13 and Mar-24, Avanse Financial Services had attracted about USD 464 M from IFC, Warburg Pincus, DFC, Kedaara Capital, Avendus, Kotak Alternate, Mubadala Investment.For FY25, Avanse Financial Services had reported about INR 2,347 Cr in Operating Income and about INR 502 Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
