Education loan firm Avanse Financial Services Ltd has raised Rs 357 crore via securitisation transaction from a global financial institution, the company said on January 27.
The transaction was facilitated by Northern Arc Capital, and the corpus will support the expansion of Avanse's education financing programme, the non-banking financial company (NBFC) said.
“The organisation’s deep domain expertise, healthy portfolio and robust business strategy have enabled it to receive this long-term investment. Despite all the market fluctuations amidst the ever-evolving macroeconomic scenarios, Northern Arc Capital was able to facilitate due diligence and successfully completed the transaction between both the parties,” the company announced.
Bama Balakrishnan, COO of Northern Arc Capital, said the firm is “pleased to structure, facilitate and co-invest in this notable securitization transaction. Education financing is a bourgeoning segment in India, and we foresee several innovative models emerging in this space”.