Eduvanz Raises $10 Million in Debt Funding
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...