Latest news with #Classplus
Entrepreneur
6 days ago
- Business
- Entrepreneur
GyanDhan Raises INR 50 Cr in Series A from Classplus and Pravega Ventures
The fresh capital will be deployed to bolster GyanDhan's consultant partnership network, enhance its proprietary SaaS platform, and double the number of partnered financial institutions from 15 to 30. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Education financing platform GyanDhan has secured INR 50 crore in Series A funding from edtech leader Classplus and venture capital firm Pravega Ventures. The funding marks a pivotal moment for the company as it aims to democratise access to education by expanding its footprint across Tier II and III cities and scaling its partner ecosystem. The fresh capital will be deployed to bolster GyanDhan's consultant partnership network, enhance its proprietary SaaS platform, and double the number of partnered financial institutions from 15 to 30. The startup also plans to invest in regional expansion, increasing its physical presence from 30 to over 50 cities, and grow its teams in technology, credit, and sales. Additional funds will be channeled into community-building efforts, including seminars, financial literacy sessions, and student workshops. "This fundraise is more than just capital—it's a strong vote of confidence in our mission to democratize access to education," said Ankit Mehra, Co-founder and CEO of GyanDhan. "We're doubling down on building infrastructure and technology that unlock educational opportunities for millions of families across India." Founded in 2016 by IIT alumni Ankit Mehra (IIT Kanpur) and Jainesh Sinha (IIT Delhi), GyanDhan operates a hybrid model that combines a loan marketplace with its own NBFC lending arm. The platform simplifies the student loan journey through partnerships with 15+ financial institutions, including SBI, ICICI, and Credila, and over 100 education consultants using its SaaS tools. To date, it claims to have originated loans worth over INR 7,000 crore (~USD 840 million) and now sets its sights on INR 18,000 crore (~USD 2.1 billion) in loan originations over the next three years. Mukul Rustagi, CEO of Classplus, said, "We love resilient founders, and the GyanDhan team has displayed the DNA of surviving in a tough but massive TAM." A Pravega Ventures spokesperson added, "Their hybrid model and tech-first approach position GyanDhan as the definitive gateway for education financing in India." With this funding, GyanDhan is set to bridge India's education financing gap—one student at a time.
Entrepreneur
26-05-2025
- Business
- Entrepreneur
GyanDhan Nears USD 6 Mn Funding Round Led by Pravega Ventures and Classplus
Early backers of the company include Gray Matters Capital, Sundaram Finance, and prominent angel investors such as Satyen Kothari, Paula Mariwala, and Pravin Gandhi. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. GyanDhan, a New Delhi-based education-finance platform, is in the final stages of raising approximately USD 6 million in a new funding round, according to Entrackr media resources. "Pravega Ventures and Classplus are jointly leading a funding round," said a source familiar with the matter, requesting anonymity due to the confidential nature of the discussions. The individual added that several of GyanDhan's existing investors are also expected to participate. Founded in 2015 by Ankit Mehra and Jainesh Sinha, GyanDhan has emerged as a leading marketplace in the education-finance space, connecting students with over 15 banks and NBFCs. The company also operates its own NBFC, licensed in 2021, and provides a SaaS platform tailored for overseas education consultants. To date, GyanDhan has facilitated more than INR 7,000 crore (approximately USD 840 million) in cumulative loan originations and maintains an on-ground presence across 30 Indian cities. Early backers of the company include Gray Matters Capital, Sundaram Finance, and prominent angel investors such as Satyen Kothari, Paula Mariwala, and Pravin Gandhi. Regulatory filings show that Classplus and Pravega have already infused INR 20 crore (USD 2.33 million) and INR 10 crore (USD 1.16 million), respectively. The remaining capital is expected to be finalised shortly, placing GyanDhan's estimated valuation in the USD 15–20 million range. Pravega's portfolio includes other edtech ventures like GrayQuest and GreyAtom. Classplus, known for its B2B edtech focus, has invested in platforms like Gyan Live and Testbook, the latter via a secondary transaction.
