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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.”