Varthana receives 3 million euros of debt finance from Dutch investor

economictimes.indiatimes.com:

Varthana, a non-bank lender in the education sector, has received 3 million euros of debt finance from Dutch investor Triodos Investment Management.

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The funding – provided through Triodos Fair Share Fund — will enable the lender to further expand its reach and support more schools and students in upgrading their infrastructure, facilities, and educational foundation, the company said.

«This investment reaffirms our commitment to making quality education accessible to all and will fuel our efforts to empower more educational institutions across the country,» said Steve Hardgrave, co-founder and chief executive of Varthana.

Established in 2013, the lender financed more than 11,000 affordable private schools and facilitated over 16,500 loans for school expansion and renovation through its presence in 16 states and union territories.

“We are very pleased to add Varthana to our financial inclusion portfolio. This investment shows that financial inclusion also plays a role in addressing other pressing issues, such as access to affordable quality education, which is seen as a key pillar to alleviate poverty," Triodos Investment Management's head of corporate debt Asia / ECCA was quoted as saying in a press release issued by Varthana.