by Suman Gupta
Varthana, a leading Non-Banking Finance Company (NBFC) in the affordable education sector, has successfully secured a USD 10 million investment from a fund managed by a leading impact investor BlueOrchard Finance Ltd. Varthana provides loans to affordable private schools and students to enhance the affordability of quality education.
This funding infusion comes at a pivotal moment for Varthana as it seeks to expand its reach and impact within the education sector. With this investment, Varthana aims to boost its efforts in providing accessible financing solutions to a wider network of affordable private schools across India. By empowering these schools with the necessary financial resources, Varthana aims to catalyze positive change and enhance the quality of education provided to millions of students from marginalized communities.
Commenting on the significance of this funding, Mr. Steve Hardgrave, the CEO of Varthana, said: “We are thrilled to have BlueOrchard Finance Ltd. as a partner in our mission to revolutionize the affordable education sector in India. This investment is a testament to our shared vision of creating meaningful impact through education. With this funding, Varthana is poised to expand its reach and support to a larger network of affordable private schools, thereby accelerating our efforts to ensure quality education for every child, regardless of socio-economic background.”
Varthana has played a crucial role by financing more than 11,000 affordable private schools and facilitating over 16,500 loans for school expansion and renovation. With a presence in 16 states/union territories and 40 branches, Varthana also extends its services to Tier III and Tier IV cities, significantly contributing to fostering accessible education in India.
Chloe Fu, Investment Officer (Southeast Asia and South Asia) at BlueOrchard Investments (Singapore) PTE Ltd, stated: “This investment represents BlueOrchard and Varthana’s mutual commitment and recognition of inclusive education’s crucial role in achieving sustainable development, and uplifting the future generations of India. We are excited to journey alongside Varthana as they continue to transform the affordable education sector at scale.”
About Varthana: Varthana is a pioneer in the affordable education sector, headquartered in Bengaluru. It is the largest education Non-Banking Finance Company (NBFC) in India. Established in 2013, the organization has a presence in 16 states and union territories, through 40 branches and 150 spokes. Varthana aims to transform affordable education in India by catering to the needs of affordable private schools through financial assistance and academic support. It is also committed to serving domestic students attending college, technical training/short-term courses, and postgraduate studies by providing them with loans to continue education. Varthana aims to make education accessible to over 10 million students by 2025.
For more information, please visithttps://varthana.com/
About BlueOrchard Finance Ltd : BlueOrchard is a global impact investment manager, pioneering impact investing since 2001. Our mission is to harness the power of finance to generate lasting positive impact for people and the planet. With over $10 billion invested, we have been at the forefront of driving change in emerging and frontier markets. From managing the world’s first and today largest commercial microfinance fund to pioneering innovative impact investment solutions, we are committed to creating measurable and meaningful impact. Join us in shaping a more sustainable future. For more information, visit https://www.blueorchard.com/
