Kolkata: Warburg Pincus-backed Avanse Financial Services has raised Rs 1000 crore in equity from Abu Dhabi-based Mubadala Investment Company and Avendus PE Investment Advisors.
Avanse, the education-focused non-banking financial company, announced the development Tuesday.
This round of funding was led by Mubadala with participation from Avendus PE Investment Advisors via its fund Avendus Future Leaders Fund II, the company said.
ET was first to report the possibility of the fundraiser on February 22, 2024.
“The growth capital will enable us to strengthen our brand proposition, integrate digital solutions, and innovate to build more depth into our product range as we work towards delivering greater stakeholder value,” Avanse managing director Amit Gainda was quoted as saying in a statement issued by the company.
The company provides educational loans to Indian academic aspirants across various countries. The company has also provided growth and working capital to Indian educational institutions. As of December 2023, the company’s AUM stands at about Rs 12,150 crore.
“We look forward to further enabling the growth of the business,” said Luca Molinari, head of Asia & financial services at Mubadala.
