Varthana Raises USD 15 Mn from BlueOrchard to Transform Affordable Education in Underserved Communities With the raised funds, the Bengaluru-based brand aims to expand its lending portfolio, providing private schools and vocational students in Tier II and Tier III cities with essential financial support for infrastructure enhancement and skill-based learning initiatives.
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Varthana, a pioneering non-banking finance company (NBFC) focused on transforming affordable private education in India, announced that it has secured USD 15 million (INR 120 crore) in funding from the BlueOrchard Microfinance Fund.
Managed by BlueOrchard, a leading impact investment firm, this funding was raised through the External Commercial Borrowings (ECB) framework. The capital marks a significant milestone in Varthana's mission to make quality education both accessible and affordable, particularly in underserved communities across the country.
The fresh funds will be strategically utilised to expand Varthana's lending portfolio, providing private schools and vocational students in Tier II and Tier III cities with essential financial support for infrastructure enhancement and skill-based learning initiatives. The funds will also support Varthana's goal of making education accessible to over 10 million students by 2025.
Steve Hardgrave, CEO of Varthana, said, "We are thrilled to receive this second round of funding from BlueOrchard, which strengthens our commitment to transforming education in underserved communities. These funds will allow us to reach more schools and families, enabling them to access the resources they need to create impactful learning environments."
Founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana has been dedicated to supporting affordable private schools and students pursuing domestic higher education.
The company provides loans to schools in need of financial assistance for infrastructure enhancement and students seeking educational loans for college, vocational training, and postgraduate studies.
With a presence in 16 states and union territories and over 40 branches, Bengaluru-based Varthana claims to have been instrumental in providing financing to more than 11,000 affordable private schools.
To date, it has facilitated over 16,500 loans for school expansion, renovation, and improvements, benefiting thousands of students.
Yan Kit Lee, Head of Originations, Asia, at BlueOrchard Investments, stated, "This facility represents BlueOrchard and Varthana's mutual commitment to inclusive education's crucial role in achieving sustainable development and uplifting future generations in India. We are excited to support Varthana as they continue transforming the affordable education sector at scale."
This strategic collaboration between Varthana and BlueOrchard underscores a shared vision for bridging India's education gap by empowering affordable education institutions and improving learning outcomes for millions of students. With its innovative financing solutions, Varthana continues to drive measurable improvements in educational access and success across India.
