Avanse Financial Services, education-focused NBFC, stated that its AUM was at 7,191 Cr at the end of H1 FY23. The overall loan distribution during this phase is 3,369 Cr., representing a threefold increase over H1 FY22. This increase is the result of pent-up demand among students who are zealously pursuing their academic goals, some of which were harmed by the pandemic. The increase in overall demand for quality education has also aided the growth of the education funding sector. Avanse, as a student-centric organisation, has so far realised the educational ambitions of 3 lac academic hopefuls.
The company’s net value is $1,474 Cr. Avanse has increased its revenue and profit after tax (PAT) by 1.7x and 2.2x, respectively, to 411 Cr. and 70 Cr.
After two years of disrupted campuses and flights due to the pandemic, 2022 has seen a boom of students travelling abroad. Avanse Financial Services has focused on integrating technology and inventing for a brighter future in order to help students achieve their educational goals. It has been on a mission to close the gap between eligible students and the opportunity to access quality education by making education finance more frictionless and boosting the country’s education ecosystem.
To provide a seamless education finance experience, the organisation obtained 390 crores through a rights issue from its current owners, Warburg Pincus, through its affiliate Olive Vine Investment Ltd., and International Finance Corporation. This cash allows Avanse Financial Services to reach out to more students and help them achieve their academic goals.
Amit Gainda, Managing Director & CEO, Avanse Financial Services said, “The past couple of years had been a period of intense action, reflection and a lot of retrospection. The entire world accelerated its power of innovation – improvised to cope with the challenges and made transformation a way of life to remain on the growth trajectory. As a student-centric organisation, we will continue to eliminate the gap between a student’s academic aspiration and the holistic expenses involved so that they can walk on the path leading to upward mobility without depending on anyone.”
He further added, “Our deep domain expertise enabled us to identify the increasing demand among students to study overseas as soon as the dust of ambiguity created by the pandemic settled. Being an education-focused organisation, we have implemented every possible means to prepare ourselves to cater to this requirement on time. Our performance and the overall sectoral growth echo the rising desire of students to pursue higher education. We will continue to remain steadfast in our purpose of democratising education and education financing in India.”
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For the second year in a row, Avanse Financial Services has been named a Great Place to Work. It has garnered awards for “Excellence in Loans” from The Economic Times, Lentra, and PWC, as well as “Most Preferred Education Institution Financing NBFC in India” from Elets and “Excellence in Education Financing (NBFC)” from Radio City.
