Varthana, a Non-Banking Finance Company (NBFC) dedicated to transforming affordable private education in India, has secured $15 million (₹120 crores) funding from BlueOrchard Microfinance Fund, managed by BlueOrchard, an impact investor, through the External Commercial Borrowings (ECB) framework.
The funds will be strategically utilized to expand Varthana’s lending portfolio, providing private schools and vocational students in Tier 2 and Tier 3 cities with essential financial support for infrastructure enhancement and skill-based learning initiatives.
Commenting on the significance of this funding, Steve Hardgrave, the CEO of Varthana, said, “We are thrilled to receive this second round of funding from BlueOrchard Microfinance Fund, which strengthens our commitment to transforming education in underserved communities. These funds will allow us to reach more schools and families, enabling them to access the resources they need to create impactful learning environments. We are driving meaningful change and empowering the next generation with better opportunities to learn, grow, and thrive.”
Yan Kit Lee, Head of Originations, Asia, at BlueOrchard Investments (Singapore), said, Varthana, a Non-Banking Finance Company (NBFC) dedicated to transforming affordable private education in India, has secured $15 million (₹120 crores) funding from BlueOrchard Microfinance Fund, managed by BlueOrchard, an impact investor, through the External Commercial Borrowings (ECB) framework.
Founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana provides loans to affordable private schools and students pursuing domestic higher education in India. Varthana has enabled thousands of private schools to upgrade their facilities and enhance teaching standards, driving measurable improvements in student success.
Varthana claims to have financed more than 11,000 affordable private schools and facilitated over 16,500 loans for school expansion and renovation. With a presence in 16 states/union territories and 40 branches, Varthana also extends its services to Tier III and Tier IV cities, significantly contributing to fostering accessible education in India.
