Varthana, a leading NBFC in affordable education, has secured 3 million Euros (INR 27 crores) from Triodos Investment Management through Non-Convertible Debentures (NCD). This funding marks a major step in Varthana’s mission to support India’s education sector.
Triodos Investment Management, based in the Netherlands and known for sustainable and impactful investments, recognizes Varthana’s efforts in providing accessible financing to educational institutions across India. The funding from the Triodos Fair Share Fund will help Varthana expand its reach and assist more schools and students in improving their infrastructure, facilities, and educational foundations.
Commenting on this round of funding, Mr. Steve Hardgrave, Co-Founder and CEO of Varthana, stated, “We are thrilled to have Triodos Investment Management on board as a partner in our journey to transform education financing in India. The funding provided to Varthana reflects a shared vision of driving positive social impact and the importance of innovative financing solutions in addressing the challenges faced by the education sector. 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.”
Since its inception, Varthana has been a leader in revolutionizing education financing in India. It has financed over 11,000 affordable private schools and facilitated more than 16,500 loans for school expansion and renovation. Operating in 16 states and union territories with 40 branches, Varthana also serves Tier III and Tier IV cities, significantly enhancing access to education in India.
Dorian Marquer, Head of Corporate Debt Asia/ECCA Triodos Investment Management, stated, “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. Education is an empowering force in the world and Varthana plays a very important role to equip children across India with the qualities and skills to shape and build their future.”
