Non-Banking Finance Company (NBFC) Varthana has raised $15 million (approximately Rs 120 crore) in funding from the BlueOrchard Microfinance Fund, managed by BlueOrchard. The funding aims to expand Varthana’s lending portfolio, focusing on enhancing educational infrastructure and supporting vocational training in India’s Tier II and Tier III cities.
Founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana specializes in providing financial assistance to affordable private schools and students pursuing higher education within India. The company’s mission is to bridge the education gap by empowering underserved educational institutions and enabling skill development, thus improving learning outcomes across the country.
In a press release, Varthana outlined its plans to use the fresh capital for infrastructure upgrades in private schools and to support students enrolling in technical and vocational training programs. By addressing these needs, Varthana seeks to transform affordable education, ensuring that students in less accessible areas have opportunities for quality learning.
Over the years, Varthana claims to have financed over 11,000 affordable private schools and disbursed more than 16,500 loans for school expansion and renovation projects. Through its network spanning 16 states and 40 branches, the company also extends its services to Tier III and Tier IV cities. By 2025, Varthana aims to make quality education accessible to over 10 million students nationwide.
The company’s innovative solutions have enabled private schools to upgrade facilities, adopt better teaching methods, and improve student outcomes. This new funding injection is expected to further amplify Varthana’s efforts in fostering educational equity and enabling skill-based learning initiatives for millions of students across India.
