Varthana: How will the €3 million investment from Triodos Investment Management fuel growth?

Varthana, an education-focused non-banking finance company (NBFC), has secured €3 million (approximately Rs 27 crore) in funding from Triodos Investment Management through non-convertible debentures (NCDs).

Founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana is dedicated to making education accessible to over 10 million students by 2025.

The company reports financing over 11,000 affordable private schools and facilitating more than 16,500 loans for school expansion and renovation. Varthana operates in 16 states and union territories through its network of 40 branches and 150 spokes.

For what reason has Varthana obtained this Funding?

The funding from Triodos Fair Share Fund is set to empower Varthana to extend its reach, supporting more schools and students by upgrading their infrastructure, facilities, and educational foundations.

Additionally, this funding will bolster Varthana’s mission to empower educational institutions nationwide.

“We are thrilled to have Triodos Investment Management on board as a partner in our journey to transform education financing in India. This investment reaffirms our commitment to making quality education accessible to all and will fuel our efforts to empower more educational institutions across the country,” said Steve Hardgrave, Co-Founder and CEO of Varthana.

Investor Testimonial:

Dorian Marquer, Head of Corporate Debt Asia/ECCA at Triodos Investment Management, expressed, “We are delighted to welcome Varthana into our financial inclusion portfolio. This investment underscores the vital role of financial inclusion in tackling broader societal challenges, like ensuring access to affordable, high-quality education—a cornerstone in poverty alleviation efforts. Education stands as a transformative force, and Varthana’s commitment to empowering children across India equips them with the tools and abilities to shape their own futures.”

Broadening Reach

The €3 million funding will enable Varthana to expand its reach, assisting more schools and students in upgrading their infrastructure and educational resources. By improving facilities and bolstering educational foundations, Varthana aims to strengthen India’s education system significantly.