Education financing platform GyanDhan has secured Rs 50 crore in Series A funding in its recent round, with investments from edtech company Classplus and venture capital firm Pravega Ventures.
The funding will help GyanDhan expand its operations by growing its consultant network, enhancing technology for a smoother student financing process, and increasing its presence in Tier II and III cities.
It also plans to double its partnered financial institutions to 30 and strengthen its teams in technology, credit, and sales. Additionally, the company will invest in community initiatives such as seminars, workshops, and financial literacy programmes.
Entrackr was the first to report on the funding round.
“Education financing in India sits at a powerful intersection of fintech innovation and social impact. GyanDhan’s dual strategy of marketplace scale and focused NBFC lending, combined with their SaaS platform, demonstrates exceptional market understanding,” said a spokesperson from Pravega Ventures.
GyanDhan aims to increase loan originations to Rs 18,000 crore over the next three years, up from the current Rs 7,000 crore. It also plans to explore opportunities in the skilling and executive education sectors.
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Founded by IIT alumni Ankit Mehra and Jainesh Sinha, GyanDhan aims to improve access to higher education by using technology to streamline and expand financing options for Indian students, both domestically and internationally.
“We are backing their team to become the definitive gateway for education financing in India, addressing a massive gap in an underpenetrated market,” the Pravega Ventures spokesperson added.
The increasing cost of higher education, both in India and abroad, is placing growing pressure on middle-class families. However, education loan penetration in India remains below 20%, significantly lower than the 45% seen in developed markets like the US, the company said.
The Delhi-based firm highlighted that this reflects a significant gap in access and affordability, with the fragmented financing ecosystem making it difficult for students and consultants to navigate available options.
GyanDhan believes that its combined marketplace and NBFC model, along with its partner-oriented approach, can support these evolving needs within the sector.
In FY24, the company recorded Rs 21.4 crore in operating revenue and a profit of Rs 1.36 crore. The company has raised capital from Education Catalyst Fund, Sundaram Finance, Stanford Angels, Harvard Angels, and individual investors such as Pravin Gandhi and Satyen Kothari.
