Varthana Raises $7 Million From MicroVest to Transform Affordable Education in India
Varthana, a Bangalore-based non-banking financial company (NBFC) pioneer in the affordable education loan sector, has raised $7 million from MicroVest, a global investment firm based out of the United States. This investment will enable Varthana’s vision of supporting and transforming affordable education in rural India and providing loans to affordable private schools on a pan-India basis. The funds will lend greater heft to Varthana’s aim of supporting and transforming affordable education in rural India and providing loans to affordable private schools.
“MicroVest has been our long-term investment partner working towards the cause of providing access to quality education in India. The low-budget schools in which we invest are counting on inclusive financial services to get back to business following the unprecedented challenges faced during the pandemic. With the support of MicroVest, Varthana is now in a stronger position to play a constructive role in aiding these affordable schools,” said Steve Hardgrave, CEO and co-founder, Varthana.
Photo courtesy of UN Women/Second Chance Education and Vocational Learning Programme.