Social VC Investments
Education-focused NBFC Varthana Finance raises Rs.159-Cr in debt
Bengaluru-based Varthana Finance , an education-focused non-banking financial company (NBFC), has raised INR 159 crore in debt funding from three global impact investors: BlueEarth Capital, ResponsAbility, and Franklin Templeton Alternative Investments (Franklin Templeton AIF).It secured the funds through a combination of external commercial borrowing (ECB) and non-convertible debentures (NCDs). Switzerland-based firms BlueEarth Capital (via ECB) and ResponsIbility (via NCD) have invested INR 69 crore and INR 65 crore in the firm. Franklin Templeton AIF (via NCD) put in INR 25 crore.The firm will use the capital to expand its affordable private school network and integrate solar and renewable energy infrastructure in its partner schools.Varthana provides loans and academic support to small, affordable private schools that primarily serve students from low-income households.
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