Avanse Financial Services, an education-focused non-banking financial company, on Tuesday announced that it has raised primary capital of Rs 1,000 crore to fund business growth.
This round of funding was led by Mubadala Investment Company (Mubadala), the Abu Dhabi-based investment company, with participation from Avendus PE Investment Advisors Private Ltd via its fund Avendus Future Leaders Fund II, the NBFC said in a statement.
The fund infusion will enable Avanse to strengthen its position in the rapidly evolving education financing segment by focusing on creating unique customer experiences and achieving sustained profitable growth, it said.
The company has also provided growth and working capital to Indian educational institutions. As of Dec. 2023, the company's assets under management stands at Rs 12,147 crore.
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