• Home
  • Contact Us
  • Privacy Policy
  • Login
No Result
View All Result
NEWSLETTER
Smarty Business
  • Home
  • Bikes Review
  • Business Stragegy
  • Business Trends
  • Companies
  • Industry
  • Loans
  • Marketing
  • News
  • Sales
  • Contact Us
  • Privacy Policy
  • Home
  • Bikes Review
  • Business Stragegy
  • Business Trends
  • Companies
  • Industry
  • Loans
  • Marketing
  • News
  • Sales
  • Contact Us
  • Privacy Policy
No Result
View All Result
Smarty Business
No Result
View All Result
Home Loans

Sundaram Finance backs online education loans marketplace GyanDhan

by Loknath Das
June 5, 2017
in Loans
0
VIEWS
Share on FacebookShare on Twitter

GyanDhan, an online marketplace for education loans operated by Delhi-based Senbonzakura Consultancy Pvt. Ltd, has secured an undisclosed amount from Sundaram Finance Holdings, a subsidiary of Chennai-based Sundaram Finance Ltd, it said in a statement.

GyanDhan, which was founded by IIT Kanpur alumnus Ankit Mehra and IIT Delhi graduate Jainesh Sinha in May 2016, facilitates loans for students aspiring to pursue studies abroad. It has tied up with Axis Bank and State Bank of India to offer loans, and takes a commission from the lenders. The company claims to have helped more than 250 students get education loans worth Rs 60 crore.

The platform had raised an undisclosed amount in seed funding from Stanford Angels & Entrepreneurs and Harvard Angels in July last year .

It had earlier received angel funding from Satyen Kothari, founder of Cube and Citrus Pay.

Sundaram Finance deals in retail finance with a presence in vehicle finance, home finance, mutual funds, general insurance and financial services distribution.

“We are already engaging with multiple startups with various types of engagement models – operational, financing and equity investments,” said Harsha Viji, deputy managing director, Sundaram Finance.

The group is looking to buy minority stakes in early-stage ventures for $1 million or less, though larger investments will be made where they are needed, it said.

The group is also planning to co-invest with venture capitalists and angel investors in this space.

In the same space, Chennai-based school financing company Shiksha Financial Services India Pvt. Ltd had received about Rs 6.7 crore ($1 million) from The Michael & Susan Dell Foundation along with Aspada Investment Company last year in November.

Other players in the segment are Delhi-based Indian School Finance Company Pvt. Ltd (ISFC) and Bangalore-based Thirumeni Finance Pvt. Ltd, which operates under the banner of Varthana.

While ISFC caters to private unaided schools, vocational colleges, coaching and tuition centres, Shiksha provides loans for asset creation, working capital and school fee in the education sector. Varthana offers loans to private schools that cater to the poor and the emerging middle class.

In September 2016, ISFC raised Rs 10 crore ($1.5 million) in funding from US-based impact investment firm Gray Matters Capital and its associate fund GrayGhost Ventures.

In April 2016, Varthana raised Rs 93 crore ($14 million) in its Series B round of financing led by Kaizen Private Equity and Zephyr Peacock India.

[Source”cnbc”]

Tags: backseducationFinanceGyanDhanLoansMarketplaceOnlineSundaram
Loknath Das

Loknath Das

I am a blogger with the main motive of writing articles at my choice of level. I do love to write articles and keep my website updated regularly , if you love my article then be sure to share with your friends as they would love to read my article...

Next Post
How collaboration between marketing and HR is fuelling career success at GSK

How collaboration between marketing and HR is fuelling career success at GSK

Recommended

Nazara, Supercell’s Game Lead, and London Venture Partners Invest in TrulySocial

Nazara, Supercell’s Game Lead, and London Venture Partners Invest in TrulySocial

7 years ago
Nextbit Robin starts Receiving software replace With today’s safety Patches

Nextbit Robin starts Receiving software replace With today’s safety Patches

7 years ago

Recent Post

  • How Different is Online marketing from Offline marketing
  • Know Customer Service points Roles and Responsibilities
  • The Business Lessons To Be Learned From Poker
  • Document management system’s security
  • 4 Ways New Companies Protect Themselves
  • Aadhaar Enabled Payment System (AEPS) – Biznext
  • Home
  • Contact Us
  • Privacy Policy

No Result
View All Result
  • Home
  • Bikes Review
  • Business Stragegy
  • Business Trends
  • Companies
  • Industry
  • Loans
  • Marketing
  • News
  • Sales
  • Contact Us
  • Privacy Policy

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In