Varthana Secures €3 Million Funding from Triodos Investment Management

Varthana, a leading non-banking finance company (NBFC) specializing in the education sector, has successfully secured €3 million (approximately ₹27 crore) in funding through non-convertible debentures (NCD) from Triodos Investment Management. This investment, facilitated by the Triodos Fair Share Fund, aims to bolster Varthana’s efforts to enhance educational infrastructure and support more schools and students across India.

Founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana operates in 16 States and Union Territories, with a network of 40 branches and 150 spokes. The company has already provided financing for over 11,000 affordable private schools and facilitated more than 16,500 loans for school expansion and renovation. With this new funding, Varthana is poised to expand its reach even further, aspiring to make quality education accessible to over 10 million students by 2025.

Steve Hardgrave, Co-Founder and CEO of Varthana, expressed his excitement about the partnership, stating, “We are thrilled to have Triodos Investment Management on board as a partner in our journey to transform education financing in India. The funding provided to Varthana reflects a shared vision of driving positive social impact and the importance of innovative financing solutions in addressing the challenges faced by the education sector. This investment reaffirms our commitment to making quality education accessible to all and will fuel our efforts to empower more educational institutions across the country.”

Dorian Marquer, Head of Corporate Debt Asia/ECCA at Triodos Investment Management, commented on the significance of the investment, “We are very pleased to add Varthana to our financial inclusion portfolio. This investment shows that financial inclusion also plays a role in addressing other pressing issues, such as access to affordable quality education, which is seen as a key pillar to alleviate poverty. Education is an empowering force in the world, and Varthana plays a very important role in equipping children across India with the qualities and skills to shape and build their future.”