"Eduvanzing" Education Eduvanz intends to bridge the gap between the immense learning opportunities available for students and professionals vis-a-vis the lack of financial resources to avail the courses within their budget
By Saptak Bardhan •
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The Indian Edtech industry is witnessing a 32 times growth primarily driven by K-12, higher education, and upskilling categories. Poised at a growth of $30 billion dollars in the next 10 years, the next thrust of focus is to make those educational opportunities available to students through technological innovations and ensure easy financing options to make learning feasible.
Eduvanz intends to bridge the gap between the immense learning opportunities available for students and professionals vis-a-vis the lack of financial resources to avail the courses within their budget.
"We aim to help students not only explore and discover courses pertinent to their career and growth plan but also help them by offering flexible financial assistance with fast, convenient, and affordable no-cost financing solutions," said Varun Chopra, co-founder and CEO, Eduvanz.
Eduvanz is a fintech NBFC in the business of providing loans to learners for their learning and related needs. By partnering directly with institutes and merchants, Eduvanz provides no cost loans to students at the point of purchase making their decision faster. The company collaborates with corporates for financing their employee upskilling and L&D financing. Eduvanz uses proprietary artificial intelligence based algos and predictive analytics to provide loans. Having a niche business model that supports skill development and employment, Eduvanz is moving from educational needs financing to holistic learner needs financing.
Covid-19 has accelerated the growth of online learning and given birth to several Education technology start-ups in India and across the globe. The widespread and growing use of digital technology has reshaped the teaching-learning process in India. Eduvanz is in a continuous process of building new technology-based products which will provide learners across India an ability to identify the skills that are appropriate for them, while learning the same from the best possible institutes using our no-cost loans at a click of a button.
Despite being a tech company, Eduvanz is constantly focusing on innovating and building integrated technology-based solutions which completely automates the borrower's lending journey from course selection to enrolment, to repayment- ensuring low operational cost.
The company has also partnered with impact lenders like MSDF to raise debt at low cost - supporting individuals from the financially challenged families to take a loan and get skilled. As India continues to become one of the youngest countries in the world and with close to 600 million people between the age group of 16-42 years, the company will have a large volume of individuals associating themselves to learn new skills or upgrade their existing skills that would in turn ensure that financing companies like Eduvanz continue to act as an enabler for growing learner population.
Eduvanz is looking to grow 300 per cent year-on-year for the next 12 months.
FACTSHEET
- Year of establishment - 2016
- No. of employees –as on date – 250+Active Employees
- Amount of external funding and leading investors
