Tag: Eduvanz

Eduvanz Launches Digital Lending for Parents to Pay K-12 School Fees

Eduvanz Launches Digital Lending for Parents to Pay K-12 School Fees

Banking, Finance, Insurance, News
Eduvanz, a fintech Non-banking Finance Company (NBFC) that enables students to Study Now, Pay Later at 0% interest rates has launched Digital Lending for parents at Zero Cost to pay their ward's school fees. Eduvanz helps parents to convert school fees into easy and simple subscription-based Zero Cost EMIs with the benefit of repayment in 3 months to 9 months without any processing fee. An amount of Rs 300 crore will be disbursed during the next 3 years. The K-12 edtech market in India is projected to be worth $1.7 billion by 2022, up more than six-fold from $265 million in 2019. Varun Chopra, CEO and Co-Founder of Eduvanz said, “After a survey conducted involving 10,000+ parents, we understood that there is requirement for a product that could make finance easier fo...
Eduvanz Raises $10 Million in Debt Funding

Eduvanz Raises $10 Million in Debt Funding

Investment, News
Eduvanz, a Non-banking Finance Company (NBFC) that enables students to Study Now, Pay Later at 0% interest rates has raised $10 million in debt funding from multiple financial institutions including InCred Financial Services, Vivriti Capital, and Northern Arc Capital. Eduvanz aims at changing the way India pays for education by enabling learners to apply for low-cost loans via its digital platform. It has already enabled more than 25,000 learners and has disbursed loans worth Rs 300 crore. During the period of April 2020 to December 2020 when the pandemic hit the unique customer base of Eduvanz grew by four times and monthly disbursal of loans grew up three times. Says Varun Chopra, CEO, and Co-Founder of Eduvanz...