Edtech Platform Physics Wallah Partners With Rang De To Provide Education Loan
Under the partnership, economically disadvantaged students will have access to collateral-free education loans, averaging between Rs three to four lakh
Physics Wallah, an edtech startup, partnered with Rang De, a peer-to-peer social investing platform, to launch 'Physics Wallah Fund'. The fund aims to provide accessible and affordable student loans, primarily targeting the Physics Wallah Institute of Innovation (PW IOI), which offers a four-year residential program focused on Computer Science and AI.
According to a statement, under this partnership, economically disadvantaged students will have access to collateral-free education loans, averaging between Rs three to four lakh. These loans will be financed by social investors, members of Rang De's lending community and can be repaid upon course completion.
Prateek Maheshwari, Co-founder of Physics Wallah, stated, "This partnership is a pivotal step towards realising our mission of democratising education at scale in India."
Physics Wallah, founded in 2016 by Alakh Pandey. It emerged as a significant player in the edtech sector. As of July 2022, the company is valued at approximately USD 986 million and operates both online and offline, covering 98 per cent of India's pin codes.
