ANI PR Wire
19 Jan 2023, 16:15 GMT+10
Mumbai (Maharashtra) [India], January 19 (ANI/PRNewswire): Avanse Financial Services Ltd. (Avanse), India's new age, technologically advanced, education-focused non-banking financial company (NBFC), today announced that Kedaara Capital, a leading private equity firm, will infuse Rs 800 Cr. in Avanse to fund its strong secular growth. The fund-raise will be deployed to expand its presence and outreach to a larger number of deserving Indian students enabling them to fulfill academic aspirations and towards greater development of the Indian education ecosystem. Warburg Pincus continues to be the majority shareholder in Avanse.
Avanse has been on a strong growth trajectory, playing a transformational role in the education financing segment. The company's AUM stands at ~Rs 8,000 Cr. as of December 2022, reporting a 1.9x growth over the same period last fiscal. During 9MFY2023, Avanse witnessed the highest-ever growth in its loan disbursement of ~Rs 4,850 Cr., delivering ~2.5x growth over the same period last fiscal. As a student-centric organisation, Avanse has fulfilled the educational dreams of over ~3 lakh academic aspirants across 3,000+ institutes and 25,000+ courses in over 50 countries. The company also provided growth and working capital to 1000+ educational institutes catering to over ~5-6 lakh students.
Amit Gainda, Managing Director & CEO, Avanse Financial Services, said, "While Warburg Pincus & IFC continue to be supportive partners in our journey, we are now delighted to have Kedaara Capital on board. Avanse is at an exciting phase of growth as we continue to fulfil our mission of providing education financing to students passionate about accessing high-quality education. As the world recovered post the pandemic, we witnessed a significant resurgence of students seeking higher education at international locations. We have responded with agility, leveraging technology to develop customised financing solutions to address unique student demands. The growth capital will enable us to strengthen our brand proposition, integrate digital solutions and innovate to build more depth into our product range as we work towards delivering greater stakeholder value."
Narendra Ostawal, Managing Director, Warburg Pincus & Non-Executive Director, Avanse Board, said, "Avanse has remained true to its commitment of fulfilling the right to quality education. The team led by Amit has delivered commendable performance over the last three years as India navigated through the pandemic. The Indian education finance segment is witnessing strong secular growth, and we look forward to providing continued support to Amit and his team towards achieving their goal of democratising education and education financing."
Commenting on the investment, Sunish Sharma, Managing Partner and Co-CEO, Kedaara Capital said, "Kedaara is very excited to partner with Amit and the management team and support Avanse's continued evolution. We look forward to using our operational expertise and experience in the financial services space to help them realise their long-term vision." Kartikeya Kaji, Managing Director, Kedaara Capital added, "The fresh primary infusion will significantly improve the company's capitalisation, providing a strong base for future growth."
Avendus Capital acted as the exclusive financial advisor for the transaction, and AZB & Partners represented the Company, and Warburg Pincus as legal counsel. Khaitan & Co. acted as legal counsel to Kedaara Capital.
About Avanse Financial Services
Avanse Financial Services Limited is a new-age, technologically advanced, education-focused NBFC on a mission to provide seamless and affordable education financing for every deserving Indian student. The company provides loans across the following segments:
- Student Loans: Financing solutions designed to cater to the entire education lifecycle of students.
- Loan for Higher Education in India and abroad
- Student Loan Refinancing
- Loans for Professionals: Financing solutions for professionals to meet the need of the hour and to be future-ready
- Skill Enhancement Loans
- Executive Education Loans
- Institution Loans: Loans for financing working and growth capital needs of educational institutes in India
- Loan for Education Institutions
- Social Infrastructure Loans
For more information, please visit www.avanse.com. For organisation updates, follow us at https://www.linkedin.com/company/avanse-financial-services?originalSubdomain=in
Warburg Pincus LLC is a leading global growth investor. The firm has more than USD 85 billion in assets under management. The firm's active portfolio of more than 260 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 21 private equity and 2 real estate funds, which have invested more than USD 108 billion in over 1,055 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, Sao Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com.
For more information, please visit www.warburgpincus.com. Follow on LinkedIn.
Kedaara is an operationally oriented private equity firm pursuing control and minority investment opportunities in India. It currently advises/manages over ~USD 3.6 billion through investments in several market leading businesses across a variety of sectors including consumer, financial services, pharma/healthcare, technology/business services and industrials.
Kedaara's operating partner model comprising former CEOs with proven track records of building market-leading businesses enabling them to realise their full potential. Since its inception, Kedaara has remained singularly dedicated to its stated strategy of focusing on investments built through trust-based relationships with best-in-class entrepreneurs and management teams across secular fast growing end markets. Kedaara was co-founded by Sunish Sharma, Nishant Sharma and Manish Kejriwal and combines the strengths of a well-networked, highly experienced local investing and operating team, with the experience of their strategic partner, Clayton, Dubilier & Rice, a global private equity firm whose investment model blends financial skills with operating expertise. For further information about Kedaara, please visit: https://www.kedaara.com
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
Get a daily dose of Kolkata Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kolkata Sun.
More InformationECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
Surat (Gujarat) [India], July 12 (ANI): The Aircraft Accident Investigation Bureau (AAIB) on Friday released the preliminary report...
New Delhi [India], July 12 (ANI): Union Minister for Coal and Mines G Kishan Reddy on Saturday said that the Central Government has...