Private schools and vocational students in Tier II and Tier III cities will receive essential financial support for infrastructure enhancement and skill-based learning initiatives with the raised funds.

The BlueOrchard Microfinance Fund, a pioneering non-banking finance company (NBFC) focused on transforming affordable private education in India, has awarded Varthana $15 million (Rs. 120 crore) in funding.

The funding was raised through the External Commercial Borrowings (ECB) framework and was managed by BlueOrchard, a leading impact investment firm. Quality education is both accessible and affordable in underserved communities across the country, and the capital marks a significant milestone.

Private schools and vocational students in Tier II and Tier III cities will receive essential financial support for infrastructure enhancement and skill-based learning initiatives with the fresh funds. The cash will also help Varthana reach his goal of educating ten million people by the year 2025.

"We are thrilled to receive this second round of funding from BlueOrchard, which strengthens our commitment to transform education in underserved communities," said Steve Hardgrave, CEO of Varthana. These funds will allow us to reach more schools and families, allowing them to access the resources they need to create impactful learning environments.

Varthana has been dedicated to supporting affordable private schools and students pursuing domestic higher education since it was founded in 2013 by Steve Hardgrave and Brajesh Mishra.

Schools in need of financial assistance for infrastructure enhancement and students seeking educational loans are provided by the company.