Business Standard

Avanse raises Rs 1,000 cr from investors led by Mubadala Investment Company

The company has also provided growth and working capital to Indian educational institutions. As of December 2023, the company's assets under management (AUM) stands at Rs 12,147 crore

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Photo: Bloomberg

Press Trust of India New Delhi

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Avanse Financial Services, an education-focused non-banking financial company (NBFC), 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 December 2023, the company's assets under management (AUM) stands at Rs 12,147 crore.

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 26 2024 | 11:39 PM IST

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