ADVERTISEMENT

Mumbai-based students loans startup Eduvanz raising $3 million from Sequoia, others
M

Eduvanz financing raised $500k and $2 million funding earlier from Blinc Advisors and Unitus Ventures and Michael & Susan Dell Foundation, respectively.

Mumbai-based education loans startup Eduvanz Financing will be raising $3 million in Series A funding round led by Sequoia’s SCI Investment VI fund, along with participation from Redwood Trust, QED Innovation Labs, and Vistra ITCL on behalf of Unitus Seed Fund India II.

The startup has not revealed how it will be using the freshly raised funding yet. 

Eduvanz will be allocating 77067 Series A shares at face value of Rs 100 and a premium of Rs 2891.31 each share, leading to the total funding amount raised by the firm.

Helping students receive the right financial aid

Eduvanz Financing was founded by Varun Chopra, Raheel Shah, and Atul Sashittal in 2016 as an NBFC & private finance company that offers low-interest loans to students for education, career, and skill development. 

The startup uses tech to assign credit scores to students seeking a loan based on their socioeconomic and demographic background, helping them gain access to the right kind of financing needed to fulfill their dreams. 

The startup has also partnered with over 80 institutes like Imarticus, K-11, and ISBM to help boost its value beyond loans to offer scholarship & placement support for students. 

An NBFC is a Non-Banking Financial Corporation that functions in providing financial services to its users, without being registered a bank. 

Eduvanz received its NBFC license from the RBI back in 2017, after which it raised $500k funding from Blinc Advisors. The company also raised $2 million funding from Unitus Ventures and Michael & Susan Dell Foundation to expand its lending operations in the country. 

+ posts

A passionate writer with bachelor’s in the field of English & Journalism. Other than being a bibliophile, some of her hobbies are travelling, photography and poetry.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Saumya Uniyal
Saumya Uniyal
A passionate writer with bachelor’s in the field of English & Journalism. Other than being a bibliophile, some of her hobbies are travelling, photography and poetry.

Leave A Reply

Please enter your comment!
Please enter your name here

ADVERTISEMENT

related stories

MPL

MPL Bags 90 Million USD in Series C Funding Round

0
Mobile Premier League (MPL) (1) has secured 90 million USD in the latest fundraising led by SIG, RTP Global, and MDI Ventures. Other existing...
Thiruttuvcd

Thiruttuvcd 2020- Illegal movies download website

0
INDEX: What is Thiruttuvcd? History How does it work? Features of Thiruttuvcd Alternatives Legality and accessibility   What is Thiruttuvcd? Everyone likes to enjoy a movie or...

How Acko became India’s leading online insurance company

0
All about Acko Insurance, no matter what kind, gives us the sense of being safe and secure in life. We all know that insurance protection...
FPIs

Indian Market Remains Attractive to Overseas Investors

0
The Foreign Portfolio Investors (FPI) have purchase equities worth of 1,766 crore INR and infused 2,178 crore INR in the debt segment between 1...
gold deposit

Earn Money From Your Gold While Keeping it Safe in Banks

0
Indians are good at saving gold, as it is an integral part of our culture. Gold also provides financial security. It's the only property...
Drivezy

Drivezy to Secure 30 Million USD in Funding Round

0
Drivezy (1) is in talks with an undisclosed Middle East sovereign funds and Shell Ventures. As the reports suggest, the deal is in the...
PlayStation 5

PlayStation 5- Design, Specifications, and Release date

0
INDEX: Introduction Specifications and features of the PlayStation 5 Design of the PlayStation 5 Estimated price and Release date FAQ   Introduction: We all know that gaming...
Classplus

Classplus Secures 10M USD From Alpha Wave Incubation

0
The Delhi NCR-based startup, Classplus have increased its valuation by 83% with the latest tranche. It is the second investment of the company in...