Bengaluru-based Varthana Finance, a non-banking finance company (NBFC) that provides loans to affordable private schools and students to pursue higher education, has acquired school loan portfolio of India School Finance Company (ISFC) across 14 states for ₹126 crore.
Steve Hardgrave, the CEO and co-founder of Varthana, expressed his enthusiasm about this milestone, stating, “Taking the ISFC portfolio under Varthana’s wing is a significant step in our journey to ensure that India’s schools are well supported to deliver quality education to the country’s 350 million young people.” His words reflect Varthana’s unwavering commitment to fostering an environment where educational institutions can thrive and fulfill their vital role in shaping the nation’s future.
The acquisition has garnered attention not only for its scale but also for its exemplification of collaboration within the impact investment sector. Sandeep Wirkhare, CEO of ISFC, an NBFC also focused on education, shared his perspective on the transaction. He noted, “This may be an exemplary transaction where an impact institution helps create a product segment, stabilize, and hands over a growth baton to the most like-minded institution to continue customer and employee relationships.”
Indeed, this acquisition signifies more than just a business deal; it symbolizes a shared vision and a collective effort towards empowering educational institutions and, ultimately, the young minds they nurture. Varthana’s commitment to excellence and its dedication to the education sector continue to inspire confidence and drive positive change in the Indian education landscape.
