Eduvanz acquires mentoring platform Klarity

Mumbai-based fintech lending startup Eduvanz has acquired edtech startup Klarity. The company did not disclose details around the financials of the deal. Eduvanz is backed by investors like Sequoia Capital, Unitus Ventures and has till date raised $6 million in cumulative investments.

Eduvanz helps students to get funded for education programmes, for which they can repay the loans later. Klarity is an online one-on-one platform which connects students with professionals in their area of interest for video based mentoring.

Klarity connects post graduate students with mentors to help them decide on specialisation, future course of action and openings in the job market.

“The acquisition of Klarity has helped Eduvanz reach out to a network of passionate industry mentors and more than 300 education institutes powered by mentoring that enabled them to choose the most suitable path in their education and career,” said Varun Chopra, chief executive officer, Eduvanz.

Klarity is equipped with a mentor network of more than 200 industry experts from some of the best companies of the world such as Amazon, JP Morgan, Uber who graduated from the top management institutes of the world such as the IIMs, Carnegie Mellon, Georgia Tech and so on.

These executives typically spare a few hours of their weekends to help students take better decisions around their future.

Eduvanz processes education loans for students by using a proprietary algorithm at the back-end. They're currently present in more than 250 cities in India and have disbursed over Rs 200 crore.