Avanse Financial Services, a leading education focused NBFC, and Chennai-based fintech marketplace Vivriti Capital have concluded a first-of-its-kind securitization of education loans in India aggregating to Rs 108 crore. Amit Gainda, CEO, Avanse Financial Services said this securitization arrangement highlights the quality of the firm’s loan book portfolio, which continues to demonstrate a steady growth momentum. The deal is in line with the company’s growth strategy and will enable Avanse to access capital for the growth we are seeing in our business. Avanse lends to students and to educational institutions. It is a part of Wadhawan Global Capital and an associate company of DHFL. It is backed by the World Bank through the International Finance Corporation (IFC), which holds a 20% stake in the company. It has funded over 10,000 students in over 45 countries and over 130 educational institutions in India. Vivriti Capital is a one-stop fintech marketplace set up by Gaurav Kumar and Vineet Sukumar that addresses debt requirements of its target clientele comprising financial institutions, corporates, small enterprises, and individuals that lack efficient access to financial services.
