Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 04 2018

ChrysCapital Tops $55 mn Round In School Finance Company Varthana

Varthana, which was launched by Brajesh Mishra and Steve Hardgrave in 2013, supports 3,500-plus schools, comprising 84,000 teachers and 2.5 million students.

Home-grown private equity firm ChrysCapital led an Rs 350-crore ($55-million) Series C funding round in Bengaluru-based Varthana operated school finance company Thirumeni Finance Pvt. Ltd.

According to Thirumeni Finance, the investment was a combination of primary infusion and secondary stake sale by early-stage investors. Existing investors, Elevar Equity, LGT Impact, Omidyar Network and Kaizen Private Equity also participated in the round.

The non-banking financial company is committed to expanding or improving school infrastructure, besides investing in solutions that help improve student learning outcomes by providing loan facilities. Originally the loans are given to private schools catering to students from low-income households.

Varthana, which was launched by Brajesh Mishra and Steve Hardgrave in 2013, supports 3,500-plus schools, comprising 84,000 teachers and 2.5 million students, according to the press note.

Hardgrave and Mishra said in a joint-statement that ChrysCapital’s experience in helping companies grow to new heights will help Varthana to build on its early progress.

Ashish Agrawal, director, ChrysCapital said, “ChrysCapital believes that Varthana is well poised to create a dominant platform in a niche segment, given a very passionate set of entrepreneurs along with a deep network, excellent customer relationships, and a committed workforce.”

Last October, the company had raised Rs 20 crore ($3 million) from Michael and Susan Dell Foundation.

In 2016, it had raised Rs 93 crore in its Series B round led by Kaizen Private Equity and Zephyr Peacock India. Its existing investors, Elevar Equity, LGT Impact and Omidyar Network have also participated in the current round.

Comment
image
Related opportunities
  • About Us: Pots and Pans, Launched promoted in India by Meyer..
    Locations looking for expansion New Delhi
    Establishment year 1997
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater DELHI New Delhi
  • Beauty Salons
    About Us: Cut & style is one of the finest and..
    Locations looking for expansion New Delhi
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater DELHI New Delhi
  • About Us: Founded in the year 2001-2002, ITEM Secure Pvt. Ltd...
    Locations looking for expansion Maharashtra
    Establishment year 2008
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • About Us: The Vegbites opened in 2009 and it is a restaurant..
    Locations looking for expansion Maharashtra
    Establishment year 2009
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities