Team Startupcity

• Rs 50 crore raised from Classplus and Pravega Ventures to scale education loan services.
• First strategic investment by Classplus outside its core edtech operations.
• GyanDhan has already facilitated  Rs 1,000+ crore in education loans, targeting deeper reach across India.

Education lending platform GyanDhan has raised  Rs 50 crore in investment from edtech giant Classplus and venture capital firm Pravega Ventures as a part of its current round to scale up its lending services for students and technology strength.

Established in 2016, GyanDhan is an education loan marketplace that facilitates access to education funding for Indian students in India and worldwide. The company partners with NBFCs and banks to provide collateral-free education loans, particularly targeted at students who cannot access regular financing.

Ankit Mehra, GyanDhan's Co-founder and CEO, observed that the funding will enable the company to further penetrate Tier 2 and Tier 3 cities, strengthen its tech stack, and broaden partnerships with banks and education services providers.

This is Classplus's initial strategic investment beyond its core business, as it seeks to create a larger ecosystem within the education enablement space. The edtech company envisions synergies with GyanDhan's mission of making access to quality education more democratic through financial inclusion.

GyanDhan asserts that it has arranged over  Rs 1,000 crore worth of education loans till date and enjoys collaborations with over 15 banks and NBFCs. The new funding will give the startup the boost to grow further in domestic as well as foreign education markets.