Education-focussed lendingtech startup Eduvanz raised $12.6 million in its extended Series B led by new investor Rethink Education Ventures where S3 Partners Group, Juvo Ventures, Sequoia Capital and Unitus Ventures also participated.
Eduvanz offers loans to students to help them pay for school, coaching, and test prep. Salaried and self-employed individuals can also apply for loans to cover the costs of upskilling. According to regulatory filings, Eduvanz has issued 10 equity shares and 68,373 Series B1 Compulsorily Convertible Cumulative Preference Shares (CCPS) to the investors at an issuance price of INR 15,283.71. In FY22, the company claims to have disbursed loans worth Rs 337 crore.