[Funding alert] Avanse Raises INR 1,000 Cr Equity Funding From Mubadala

Avanse Financial Services Ltd. (Avanse), an education-focused non-banking financial company (NBFC), today announced that it has raised primary capital of ₹1,000 crores. This round of funding was led by Mubadala Investment Company (“Mubadala”), the Abu Dhabi-based investment company, with participation from Avendus PE Investment Advisors Private Limited via its fund Avendus Future Leaders Fund II.

The fund infusion will enable Avanse to strengthen its position in the rapidly evolving education financing segment by focusing on creating unique customer experiences and achieving sustained profitable growth.

Commenting on this development, Amit Gainda, Managing Director & CEO, Avanse Financial Services, said, “We are delighted to welcome our new strategic investors, who share a common vision of strengthening the education financing segment in India. Along with them, we also appreciate the constant support of our existing shareholders, Warburg Pincus, Kedaara Capital, and the International Finance Corporation. They not only have recognised the profound impact of making education financing accessible and affordable but also believe in our brand ethos and our core belief that no deserving student should miss an opportunity to access quality education due to the lack of financing, irrespective of their social strata or co-borrower’s financial background. The growth capital will enable us to strengthen our brand proposition, integrate digital solutions, and innovate to build more depth into our product range as we work towards delivering greater stakeholder value.”

He further added, “The influx of capital will assist us in fulfilling a larger number of academic aspirations. Our customer-centric and result-oriented teams are equally passionate about empowering students towards upward mobility.”

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Its financial solutions cover the entire gamut of the education ecosystem ranging from school education to post-graduation & education infrastructure financing.

“Avanse will continue to enable young generations of Indian students to fulfil their aspirations. We are thrilled to partner with Amit and the management team of Avanse alongside institutions of the caliber of Warburg Pincus, Kedaara Capital and the International Finance Corporation. We look forward to further enabling the growth of the business”, said Luca Molinari, Head of Asia and Financial Services at Mubadala.

Nomura Financial Advisory and Securities (India) Private Limited acted as the exclusive financial advisor to the company, AZB & Partners represented the company, and Warburg Pincus as legal counsel. Khaitan & Co. and Latham & Watkins LLP acted as legal counsel to Mubadala. JSA acted as legal counsel to Avendus Future Leaders Fund II.

About Avanse Financial Services

Avanse Financial Services is a technologically advanced, education-focused NBFC on a mission to provide seamless and affordable education financing for every deserving Indian student.

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