Varthana Secures Rs 159 Crore for Affordable Education, School Infrastructure
Varthana, a Bengaluru-based non-banking financial company (NBFC), has secured Rs 159 crore (around $18.6 million) in debt funding. The company aims to enhance access to affordable private education and improve school infrastructure using the capital.
Founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana provides low-cost, collateral-free loans to affordable private schools and student borrowers. The company has financed over 12,000 private schools and disbursed over 75,000 loans since its inception.
The latest funding round was led by BlueEarth Capital, Franklin Templeton Alternative Investments, and responsAbility. Rs 69 crore was raised through external commercial borrowings (ECBs) from BlueEarth Capital. Additionally, Rs 65 crore was raised via non-convertible debentures (NCDs) subscribed by responsAbility. Franklin Templeton AIF infused an additional Rs 25 crore. This follows a previous debt raise of Rs 75 crore from OfBusiness and Oxyzo in March 2025.
Varthana plans to use the fresh capital to improve access to affordable private education, enhance school infrastructure, and integrate sustainable energy systems. The company's mission to support the growth of affordable private schools and student borrowers continues to gain traction, as evidenced by its successful debt financing efforts.
