Eduvanz raises Rs 50 cr in debt round as credit disbursal doubles in FY22

Onboards Oxyzo and Unifi AIF as new lenders; existing lenders, Vivriti and MAS, take incremental exposure

Eduvanz, a fintech with an NBFC licence that provides low-cost EMI credit for learning and learning-related needs, Eduvanz has raised Rs 50 crore in debt. Existing lenders MAS and Vivriti have taken incremental exposure in the round. In addition, the platform has onboarded Oxyzo and Unifi AIF as new lenders.

Eduvanz has identified off-balance-sheet partnerships to be the key strategy and intends to keep the balance sheet light. The company had total assets under management (AUM) of Rs 288.4 crore as of December 2021 and going forward, intends to have 70 per cent of the AUM as off-balance sheet, as against