27 March 2024 – Non-banking financial corporation (NBFC) Avanse Financial Services, which focuses on education, said on Tuesday that it has received Rs 1,000 crore in basic capital to support business expansion. The Abu Dhabi-based investment firm Mubadala Investment Company (Mubadala) led this round of fundraising.
The NBFC stated in a statement that Avendus PE Investment Advisors Private Ltd contributed via Avendus Future Leaders Fund II at the same time. According to the statement, Avanse will be able to use the funding injection to fortify its standing in the quickly changing education finance market by concentrating on delivering exceptional client experiences and generating steady, profitable growth.
Additionally, the business has given Indian educational institutions operating funds and expansion opportunities. The business has assets under management (AUM) of Rs 12,147 crore as of December 2023. “The infusion of funds will enable us to realize a greater number of academic goals. Gainda said, “Our results-driven and customer-focused teams share a passion for enabling students to pursue upward mobility.
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The company’s financial adviser was Nomura Financial Advisory and Securities (India) Pvt Ltd, while its legal counsel was Warburg Pincus, and Avanse Financial was represented by AZB & Partners.
