Mumbai Based FinTech Startup Eduvanz Raises $5 Million In Series A Funding
Mumbai-based FinTech Startup Eduvanz has raised $5 million in Series A funding, led by Sequoia India.
The funding round also saw participation from Eduvanz ‘s existing investor, Unitus.
As per the startup, it plans to use the funding amount to provide a seamless borrower experience with secure, scalable, innovative, and agile technologies.
The startup plans to do so by providing AI-based risk management, new credit products, and easier collections to support borrowers through their lending journey.
Eduvanz also plans to use the funds to expand to Indian Tier-II and III cities with a larger team.
Founded by Varun Chopra and Raheel Shah in 2016, Eduvanz is a new age Digital Finance Company that provides education loans ‘starting from Zero Interest for Students and Skill Seekers.’
Talking about Eduvanz, Varun Chopra, Founder and CEO of Eduvanz, said,
“We are solving problems directly linked to nation-building as well as growth of the Indian industry.”
Varun Chopra also said,
“By combining innovative student-centric loan solutions, robust risk-assessment with cutting edge digital lending technology, Eduvanz is enabling higher enrollment for learners across colleges, universities, certification partners, institutes, and schools.”
As per Eduvanz, it has helped skill-seekers across 240+ cities with 300+ institute partnerships covering 25+ skills industries.
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