Eduvanz Raises $12.6 Mn From Equity Round

Eduvanz a lending fintech startup that focuses on education loans raises $12.6 million from the new and existing investors in the first equity round

Eduvanz raises $12.6 million in funding for the first equity round from New and existing investors. It is a Mumbai-based fintech backed by Sequoia. It is an education-centric lending tech startup.

The company’s board has approved a special resolution to allot 68,373 Series B1 CCPS at an issue price of Rs 15,283.71 per share to raise Rs 104.5 crore, according to the media reports.

The equity round was led by Rethink Education, a venture capital fund that backs education technology startups. Existing investors Sequoia Capital, Juvo Ventures, and Unitus Ventures also participated in the funding round.

It was founded in 2016 by Varun Chopra, Raheel Shah and Atul Sashittal. It offers education loans that allow students to study now and pay later in pocket-friendly monthly instalments at zero per cent rates.


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