Eduvanz supporting millennials with ‘study now, pay later’ program for hassle-free education

Founded in 2016 by IIT graduate Varun Chopra and IIM alumnus Raheel Shah, Eduvanz is a Mumbai-based fintech startup offering easy and affordable financial options for students, learners, and parents.It focuses on providing flexible tenures, fast turnaround time, and full transparency on financial education decisions or loans at different learning levels, including K-12 (kindergarten to 12th grade) higher education, or professional development courses.To overcome the challenges of job-oriented courses and support individuals to pursue a vocational degree or skill development course at recognized institutions, Eduvanz has tied-up with over 80 institutes within a short span of time.

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Eduvanz education loan for 24 months is offered at zero percent rate. It provides ‘study now and pay later’ option with pocket-friendly monthly instalments.

“We are solving for faster loan decisions, backed by transparent processes and student-centric policies. In doing so, Eduvanz has innovated loan solutions for each stakeholder. Thus, learners can leverage fast, cheap, and flexible financial loans, while institutes get faster disbursals and increased enrolments.” says Varun, CEO of Eduvanz.
The learners and admission advisors can access and know the status of loan applications via the Eduvanz mobile app or web interface anytime.

As per Raheel, the chief business officer in charge of alliances and partnerships, the company has designed this platform considering the millennial generation with a complete online, paperless, and fast journey.
The company has witnessed a rapid growth and built a team of over 150 employees across India. In the year 2019, it raised around $2 million in a pre-series A round from Unitus Ventures and the Michael & Susan Dell Foundation. On the other hand, during the pandemic last year, it raised $5 million as a part of a Series A round led by Sequoia India, with participation from existing investor Unitus Ventures.

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