Eduvanz is a tech-enabled NBFC that provides ‘study now and pay later’ loans for education and skilling purposes

Basic Information

Mumbai-based Eduvanz was launched by Varun Chopra, Raheel Shah and Atul Sashittal in September 2016. Eduvanz provides loans to individuals to pursue any vocational degree or skill development course at any institute either recognised or in partnership with the company. It has tie-ups with more than 80 institutes. Eduvanz also aims to offer loan products that will focus on supporting financial requirements for K-12 (kindergarten to 12th grade) programmes, online skill development courses and professional courses. See more

Legal Name

:

Eduvanz Financing Private Limited

Headquarters

:

Mumbai, Maharashtra , India

Business Model

:

B2B2C 

Founding Date

:

2016

No. of Employees

:

101 to 150

Core Team

:
1.

Raheel Shah

Co-Founder & CBO

2.

Varun Chopra

Co-Founder & CEO

Timeline
2017
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Jan | Product Launch
Eduvanz provided its first loan to the customer via Institute and FI partners in place.
2018
Jul | Key Leadership Hire
We hired Sukesh Tandon as our CRO.
Sep | Strategic Partnership
Partnership with Fullerton went live providing Eduvanz the capital required to Lend at a large scale.
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Revenue Streams

Target Market

B2C

Students and Individuals who are looking to get education or skills for career and employment.

User Age

:

Less than 18, 18 to 25, 26 to 34, 35 to 45, 46 to 60, More than 60

User Income

:

Lower Income, Lower-middle Income, Upper-middle Income, High Income

Location

:

India

Funding

Total Funding

$6.7M

Investors

:

1.

Vistra ITCL

2.

Unitus Ventures

3.

Michael & Susan Dell Foundation

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Detail Round Breakdown

Round 1

$5.14M

Series Name

:

SERIES-A

Date

:

Aug 2020

Investors

:
1.

Sequoia Capital

2.

Unitus Ventures