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Eduvnaz has raised $10 million in debt funding from InCred Financial Services, Vivrita Capital, and from Northern Arc Capital.
Founded in 2016 by Varun Chopra and Raheel Shah, Eduvnaz is an NBFC fintech company that enables students to study now and pay later in small easy on pocket installments.
Speaking on the funding, Varun Chopra, CEO, and Co-Founder of Eduvanz, “During the pandemic, we have found that learners in India focused on learning and upskilling themselves. We are moving towards becoming a leader in the financing-lending market for education. The debt we have raised further strengthens our position and will help us reach out to many more who are looking to fund their education”.
Commenting on the investment in Eduvnaz, Irfan Mohammed, CBO, Vivriti Capital “As a technology-enabled debt platform, we are glad to associate with Eduvanz. We are aligned with Eduvanz in the belief that access to credit is a critical ingredient for development. We appreciate the company’s effort to help the youth of the county by providing access to finance and counseling”.
“Eduvanz has created a niche business model that supports skill development and employment. The company plays a crucial role in helping interested students secure funding, impacting their lives and livelihoods positively. We are excited to partner with such an institution that addresses a largely untapped market and simultaneously creates a lasting impact,” Ms. Bama Balakrishnan, COO of Northern Arc Capital said.