Total amount raised
$51.4 Million
Latest funding date
02/01/2025
Location
Eduvanz has successfully raised funds over 10 rounds, with the latest being a Debt Financing round. The company is backed by 20 investors, including recent investors Unitus Ventures and Juvo Ventures.
Keep reading to explore the intricacies of Eduvanz's fundraising journey and the investors backing this innovative platform.
What Is Eduvanz?
Eduvanz is a fintech company based in Mumbai, Maharashtra, India. It specializes in providing loans for students, education, career, and skill development. The company operates in various sectors, including consumer lending, education, financial services, fintech, and lending.
With a workforce of 101-250 employees, Eduvanz has successfully raised funds over 10 rounds and is backed by 20 investors. The company has also made an acquisition, purchasing Klarity.
How Much Funding Has Eduvanz Raised?
- Round Name: Angel
- Amount Raised: USD 500,000
- Date: February 2018
- Lead Investors: BlinC Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial loan products.
- Round Name: Seed
- Amount Raised: USD 2,000,000
- Date: April 2019
- Lead Investors: Michael & Susan Dell Foundation, Unitus Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand loan offerings and enhance the technology platform.
- Round Name: Series A
- Amount Raised: USD 5,000,000
- Date: August 2020
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and reach more students and professionals.
- Round Name: Undisclosed
- Amount Raised: USD 1,000,000
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational needs.
- Round Name: Debt Financing
- Amount Raised: USD 10,000,000
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance liquidity and support loan disbursements.
- Round Name: Series B
- Amount Raised: INR 1,000,000,000
- Date: August 2021
- Lead Investors: Juvo Ventures, Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and develop new financial products.
- Round Name: Debt Financing
- Amount Raised: INR 500,000,000
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital and operational expenses.
- Round Name: Series B
- Amount Raised: INR 1,045,000,000
- Date: December 2022
- Lead Investors: Rethink Education
- Valuation at Round: USD 90,000,000
- Motivation Behind the Round: To support growth and expansion efforts.
- Round Name: Debt Financing
- Amount Raised: INR 25,520,000
- Date: February 2025
- Lead Investors: Capria Ventures, Juvo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance working capital, product development, and marketing initiatives.
Total Amount Raised: USD 21,000,000
Current Valuation: USD 90,000,000
Key Investors
- Unitus Ventures
- Details: Unitus Ventures is a venture capital firm that focuses on early-stage investments in India. They aim to support startups that have the potential to create large-scale social impact.
- Investment Focus Areas: Financial services, healthcare, education.
- Notable Investments: Hippocampus Learning Centres, BetterPlace, Masai School.
- Juvo Ventures
- Details: Juvo Ventures is a venture capital firm that invests in innovative startups with a focus on technology and social impact. They are known for their strategic support and mentorship.
- Investment Focus Areas: Technology, education, financial services.
- Notable Investments: Not publicly disclosed.
- Capria Ventures
- Details: Capria Ventures is a global investment firm that partners with local fund managers to invest in early-stage companies in emerging markets. They focus on scalable businesses that can drive social and economic impact.
- Investment Focus Areas: Financial services, healthcare, education, technology.
- Notable Investments: Agrofy, Kueski, Medgenome.
- Peak XV Partners
- Details: Peak XV Partners, formerly known as Sequoia Capital India, is a leading venture capital firm that invests in early and growth-stage companies across India and Southeast Asia. They have a strong track record of backing successful startups.
- Investment Focus Areas: Technology, consumer, healthcare, financial services.
- Notable Investments: Byju's, Zomato, OYO Rooms.
- Rethink Education
- Details: Rethink Education is a venture capital firm that invests in early and growth-stage companies focused on education technology. They aim to transform the education sector through innovative solutions.
- Investment Focus Areas: Education technology, online learning, workforce development.
- Notable Investments: Coursera, EverFi, Trilogy Education.
What's Next for Eduvanz?
Eduvanz is poised to capitalize on the growing demand for education financing solutions. With recent funding rounds bolstering their working capital and product development, the company is well-positioned to expand its offerings and strengthen partnerships with over 900 educational institutions. This expansion presents a significant opportunity for growth in the education finance sector.
Future fundraising efforts are likely as Eduvanz continues to adapt to regulatory changes and aims to attract new investors. However, challenges such as compliance with the Reserve Bank of India's digital lending guidelines and managing net losses will need to be addressed. Despite these hurdles, Eduvanz's strategic focus on unsecured loans for students and professionals positions it for continued success.
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