Varthana Bags $16.5 Million Funding to Expand Affordable Education in India

Varthana Finance, a leading NBFC in the affordable education sector in India, has secured a series of strategic international debt financings to strengthen its mission of transforming affordable education and school infrastructure across India. The funding includes a USD 6 million loan from WaterEquity, along with USD 5 million NCD from Symbiotics and EUR 5 million ECB from Triple Jump, taking the total capital raised in this tranche to approximately USD 16.5 million (INR 150.78 crores).

The USD 6 million loan from WaterEquity, a global asset manager focused exclusively on water and sanitation, will be used to expand access to safe water and sanitation facilities in underserved school communities. The funds will be deployed towards school improvement loans that incorporate water, sanitation, and hygiene (WASH) infrastructure. These investments will enable schools serving low-and middle-income communities to create safer, healthier, and more conducive learning environments for students. 

In addition, Triple Jump, a global impact-focused investment manager, has extended EUR 5 million through External Commercial Borrowings (ECB), while Symbiotics, a leading market access platform for impact investing, has provided USD 5 million through Non-Convertible Debentures (NCDs). These funds will further support Varthana’s school financing portfolio, enabling scale, geographic expansion, and deeper engagement with affordable private schools across peri-urban and rural India.

“Children spend a significant portion of their day at school, and access to safe, dignified WASH facilities is essential to improving attendance and learning outcomes - particularly for girls,” said Amit Agarwal, Head of South and Central Asia for Financial Institutions, WaterEquity. “Varthana’s extensive network of affordable private schools provides a strong platform to scale these improvements, while also advancing sustainable education infrastructure.”

“This investment reflects our commitment to supporting scalable education financing models that strengthen school infrastructure and improve learning outcomes in underserved communities,” said Sylvie Gal, Regional Manager, Asia Pacific, Triple Jump. “Varthana’s focused approach to financing affordable private schools enables long-term improvements in learning environments. By directing capital towards school growth and expansion, this partnership supports more inclusive access to quality education. We are pleased to contribute to building resilient education ecosystems across India.”

“We are delighted to work with Varthana, as their focus on affordable education aligns well with our mandate to channel capital towards institutions delivering sustainable social impact in emerging markets,” said Prashant Bhardwaj, Regional Manager, South Asia, Symbiotics. “Varthana has demonstrated the ability to scale responsibly while maintaining a clear impact orientation. This investment will support the expansion of school infrastructure and learning capacity. It reinforces our commitment to financing institutions that contribute to long-term social and economic development.”

“Access to quality education goes hand in hand with safe infrastructure and healthy learning environments,” said Steve Hardgrave, Wholetime Director and Executive Vice Chairman, Varthana. “This diversified pool of international capital allows us to scale our impact responsibly, supporting affordable schools with long-term financing for infrastructure, including WASH, while continuing to strengthen the education ecosystem for millions of students across India.”

The combined funding highlights growing global investor confidence in Varthana’s education-focused lending model and its ability to deliver both financial performance and measurable social impact. Together, these investments are expected to contribute to improved public health outcomes, higher school attendance, and India’s broader progress towards inclusive and equitable education.