Avanse Financial Services, an education loan company backed by Warburg Pincus, has secured a $98 million investment from Kedaara Capital, a Mumbai-based private equity firm focussed on growth-oriented strategic and minority investments in India, according to a report by DealStreetAsia
Avanse Financial Services, an education loan company backed by Warburg Pincus, has secured a $98 million investment from Kedaara Capital, a Mumbai-based private equity firm focussed on growth-oriented strategic and minority investments in India, according to a report by DealStreetAsia
Avanse, which claims to have lent to more than 300,000 students and provided working capital to more than 1,000 educational institutions, says the new funds will be used to provide loans to more Indian students.
Avanse, which had assets under management (AUM) of $983 million as of December 2022, said it saw annual growth of 1.9x last year.
Avendus Capital acted as the exclusive financial advisor for the transaction. AZB & Partners represented Avanse and Warburg Pincus as legal counsel, while Khaitan & Co represented Kedaara Capital.
