Mumbai, November 16, 2022: Avanse Financial Services, India’s new age, technologically advanced education-focused NBFC, announced that at the end of H1 FY23, its AUM stands at ~₹7,191 Cr. The total loan disbursement during this phase is ~₹3,369 Cr.; achieved a 3x growth over H1 FY22. This growth is a result of the pent-up demand among students who are passionately chasing their academic aspirations, some of which were affected by the pandemic. The rise in overall demand to access quality education has also positively impacted the growth of the education financing sector. As a student-centric organisation, Avanse has fulfilled the educational dreams of ~3 lacs academic aspirants so far. The net worth of the company is ~₹1,474 Cr. Avanse has achieved 1.7x and 2.2x growth in its revenue and Profit After Tax (PAT), respectively, which currently are ~₹411 Cr. and ~₹70 Cr.
After two years of pandemic-disrupted campuses and flights, 2022 has witnessed a resurgence in students heading abroad. To gear up to fulfill their educational dreams, Avanse Financial Services has been focused on integrating technology and innovating for a greater future. It has been on a mission to bridge the gap between deserving students and their chance to access quality education by making education financing seamless and strengthening the education ecosystem of the country. To offer a seamless education financing journey, the organisation raised ~₹390 crores from its existing shareholders, Warburg Pincus, through its affiliate Olive Vine Investment Ltd. and International Finance Corporation via a rights issue. This capital enables Avanse Financial Services to reach out to more students to fulfill their academic dreams.
Amit Gainda, Managing Director & CEO, of Avanse Financial Services said, “The past couple of years had been a period of intense action, reflection, and a lot of retrospection. The entire world accelerated its power of innovation – improvised to cope with the challenges and made transformation a way of life to remain on the growth trajectory. As a student-centric organisation, we will continue to eliminate the gap between a student’s academic aspiration and the holistic expenses involved so that they can walk on the path leading to upward mobility without depending on anyone.”
He further added, “Our deep domain expertise enabled us to identify the increasing demand among students to study overseas as soon as the dust of ambiguity created by the pandemic settled. Being an education-focused organisation, we have implemented every possible means to prepare ourselves to cater to this requirement on time. Our performance and the overall sectoral growth echo the rising desire of students to pursue higher education. We will continue to remain steadfast in our purpose of democratising education and education financing in India.”
Avanse Financial Services has been certified as a Great Place To Work® for the second consecutive year. It has won ‘Excellence in Loans” by The Economic Times, Lentra & PWC, recognised as “Most Preferred Education Institution Financing NBFC in India” by Elets, received “Excellence in Education Financing (NBFC)” award from Radio City and more.
Avanse Financial Services has fulfilled the educational dreams of ~3 lacs academic aspirants across 3,000+ institutes and 25,000+ courses in 50+ countries. The firm has also provided growth and working capital to ~1.2K educational institutes catering to over ~5-6 lacs students.