GyanDhan, an education loan marketplace, has raised Rs. 50 crore (around 5.8 million) in Series A round from Classplus and Pravega Ventures.
- GyanDhan raises Rs. 50 crore Series A funding from Classplus and Pravega Ventures to fuel nationwide expansion.
- Education loan platform GyanDhan to expand into 50+ tier II and III cities and double its finance partners.
- GyanDhan aims Rs. 18,000 crore loan origination in 3 years with growing NBFC lending and SaaS tech platform.
GyanDhan will use this funding to expand into over 50 Tier II and III cities, grow the number of its finance partners from 15 to 30, and grow its consultant's network and its own Saas-based tech platform.
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It is also going to grow its tech, credit and sales teams, and invest in community building via workshops and financial literacy sessions. GyanDhan was founded by Ankit Mehra and Jainesh Sinha and works through a hybrid model using a tech-enabled marketplace along with its own NBFC lending arm.
GyanDhan mentions it has facilitated over Rs 7,000 crore of loan originations and plans to increase that value by 3 times to Rs. 18,000 crore in 3 years. GyanDhan has seen fast growth in the last few years. In FY24, the company reported operating revenue of Rs. 21.4 crore along with a profit of Rs. 1.36 crore.
