Lender to low-cost private schools Varthana raises $7-M from MicroVest

Bengaluru-based non-banking financial company (NBFC) Varthana - which focuses on affordable education loans - has raised USD 7 million from MicroVest, a US-based global investment firm. The investment will enable it to support and transform affordable education in rural India and provide loans to affordable private schools across India. Varthana also claims to assist schools in implementing digital learning tools and teaching methods so that students could continue their education even remotely. Varthana was established in 2013, and has a presence in 15 states, through 40 branches and 150 spokes.