Varthana, a major Non-Banking Finance Company (NBFC) in the affordable education sector, has obtained 3 million Euros (INR 27 crores) in capital from Triodos Investment Management via Non-Convertible Debentures (NCD). This financing represents a critical milestone in Varthana’s mission to strengthen India’s education system.
Triodos Investment Management, located in the Netherlands and known for its commitment to sustainable and meaningful investments, has recognised Varthana’s commitment to delivering accessible finance solutions to educational institutions across India. The cash, provided through the Triodos Fair Share Fund, will allow Varthana to broaden its reach and assist more schools and students in improving their infrastructure, facilities, and educational base.
Commenting on this round of funding, 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.”
Varthana has been in the forefront of changing the education financing landscape in India since its establishment. It has played an important role in funding over 11,000 affordable private schools and enabling over 16,500 loans for school expansion and repair. Varthana has a presence in 16 states/union territories and 40 branches, and it also serves Tier III and Tier IV cities, making a substantial contribution to promoting affordable education in India.
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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.”
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