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Meet India s education finance startups making learning affordable for millions of students

Meet India s education finance startups making learning affordable for millions of students
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ISFC plans to raise $10-12 million through debt and equity - The Hindu BusinessLine

ISFC plans to raise $10-12 million through debt and equity February 22, 2021 × Education sector lender Indian School Finance Company (ISFC) is planning to raise $10-12 million in its eighth round of funding through a mix of both equity and debt, and has initiated talks with a clutch of family offices and high networth individuals (HNIs). “We are taking this investment round as an opportunity to convert ourselves into a full-service, digitally-driven business. ISFC is in a unique position with a strong brand value, large customer base, and well-diversified pan-India distribution and collection network. We simply need to execute our digital transformation and work on linking the whole ecosystem that would give us exponential scale with very little, known, and mitigable risk on our turf,” Sandeep Wirkhare, Managing Director and Chief Executive Officer at ISFC said.

Fintech firm ISFC in talks to raise $12 million in equity and debt

Fintech firm ISFC in talks to raise $12 million in equity and debt SECTIONS Share Synopsis In view of the pandemic, Hyderabad-based Indian School Finance Company (IFSC) is looking to extend interest-free fixed instalment loans and help drive schools towards digital transformation. Hyderabad: Fintech startup Indian School Finance Company (ISFC) is in talks with family offices to raise fresh equity of Rs 50 crore and an additional Rs 50 crore in debt (about $12 million overall) through non-convertible debentures in its eighth round of funding. The education sector lender, which is backed by US-based impact investor Gray Matters Capital and Caspian, has so far raised around Rs 150 crore in equity and disbursed around Rs 350 crore worth of loans.

Budget 2021: Edtech startups welcome focus on schools, training programmes; lament the lack of adequate fund

Nirmala Sitharaman detailing various programmes and initiatives for the sector. From drawing up the legislation for a Higher Education Commission of India to setting up a Central University in Leh to strengthening 15,000 schools and creating sainik schools as part of the National Education Policy (NEP 2020) implementation plan to the government s proposed amendments to the Apprenticeship Act and the Rs 3,000-crore corpus allocated for it most education-related announcements in the Budget have been dubbed welcome moves by startups. However, many believe that Budget 2021 missed the opportunity to make big-ticket announcements (GST cuts, etc.), adequate fund allocation in education so as to fast-track the rollout of NEP, and other incentives critical to boost a pandemic-hit economy.

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