Tag: Amit Gainda

Business World

Avanse Financial Services partners with NGOs to make quality education accessible for deserving underserved students

Mar 15, 2021 by Neel Achary 0 Comments #Amit Gainda, #Avanse Financial Services Ltd, #CEO

Mumbai, 15 March 2021: Avanse Financial Services Ltd, India’s new age, education-focused NBFC has partnered with three NGOs – MelJol, Samarthanam and Muktangan to fulfill dreams of deserving underserved Indian students. Avanse, along with the NGOs, has been working towards achieving a holistic growth for the larger community that it operates in by contributing towards developing the education ecosystem of the country. This initiative has been designed to impact thousands of lives during its course.

As a responsible organization driven to make a positive change in the education sector, Avanse has dedicated its expertise to identify the challenges faced by the underserved students. Thus, the organization curated the bridge to lend its support to students, specially-abled children and community teachers. The community teachers will be prepared to then reach out to a larger student base.

Project and collaboration highlights:

  • MelJol works with 40 Ashram schools in Palgarh district and the project reaches out to about 5,340 adolescents. It associates with disadvantaged children in Government schools, village institutions and pre-schools across the country to provide them with opportunities to participate in the process of development. Avanse has been funding primary education of students from three Ashram schools in Palgarh. This initiative will impact 400+ students in the next 12 months
  • Samarthanam helps differently abled youth from the underserved community and promotes in building an inclusive society which provides an equal opportunity, without discrimination. Avanse Financial Services has begun its journey with this NGO by supporting ~25 students who are currently in their 12th standard to complete their college education in Mumbai. This initiative has been designed to provide facilities such as learning aids for online sessions, hostel facilities, food and other assistive equipment for these students
  • Muktangan is associated with the Municipal Corporation of Greater Mumbai and offers primary education to children from underserved communities. Avanse Financial Services’ associated with this NGO to train ~500 community teachers, especially women, to serve the agenda of “education for the community, by the community”. The initiative will further create a positive influence in the lives of many more students in future

Amit Gainda, CEO, Avanse Financial Services said, “Being a responsible organization, Avanse Financial Services looks beyond just the profitable growth of the company and focuses on achieving a holistic growth for the larger community it operates in. We understand the importance of education and how it is a primary requisite for every individual to achieve a promising future. As an education focused NBFC, we are committed to partner with the ecosystem to make quality education accessible for every deserving underserved Indian student. We are proud to be associated with MelJol, Samarthanam and Muktangan as they have been doing an incredible work in supporting the underprivileged community. We are confident that our collaborative approach and collective efforts will create a stronger impact in the lives of these deserving students.”

About Avanse Financial Services:

Avanse Financial Services Limited is a new age, education focused NBFC on a mission to provide seamless and affordable education financing for every deserving Indian Student. The company provides loans across two segments:

  • Education Loan – Loans designed to cater the entire education lifecycle of student spanning from school to post graduation.

o   Higher Education – Loans for International and Domestic Studies

o   Education Loans for E-Learning

o   School Fee Financing

o   Education Loans for Skill Development Courses

  • Educational Institutional Loans – Loans for financing working and growth capital needs of educational institutes in India.

Avanse has fulfilled education dreams of ~1Lac academic aspirants across 12,000+ institutes and courses across 50+ countries. Avanse has also provided growth and working capital to ~500 educational institutes catering to over 5.5 lakhs students.

Business World

Avanse Financial Services raises ~$15 million via External Commercial Borrowing (ECB) Route

Sep 29, 2020 by Gouri Achary 0 Comments #Amit Gainda, #Avanse Financial Services, #Targeted Long Term Repo Operation (TLTRO), #World Business Capital Inc

Mumbai, September 29, 2020: Avanse Financial Services Ltd, India’s new age, education-focused non-banking financial company has raised ~$15 million from World Business Capital Inc., a US-based financial institution and this money is backed by a guarantee from US International Development Finance Corporation (US DFC) via External Commercial Borrowing (ECB) route. The organization has received this long-tenure social impact funding under US DFC’s women empowerment initiative – ‘2X Women’s Initiative’ as ~30% of the students funded by Avanse are women educational aspirants. The ‘2X Women’s Initiative’ aims to catalyse investment in projects that are owned by, led by, or empower the world’s women and supports the administration of Women’s Global Development & Prosperity Initiative (W-GDP).

This new investment is a formidable step towards enhancing the education ecosystem of India. This funding is well-poised to support the expansion of Avanse Financial Services’ education financing program and thus, strengthen its leadership position in the lending space. Avanse is one of the Indian companies to receive this investment as it is on a mission to make education financing seamless and affordable for every deserving Indian student. Its tailor-made solutions are designed to cater to 10,000+ institutes and courses in ~50 countries.

The organization has always been focused on enhancing gender diversity by encouraging women participation in higher education. It celebrates Women’s Day, Daughters’ Day over an extended period by offering special product programs to all interested women students to fulfil their academic aspirations. Avanse Financial Services ensures equal access for all students to secure affordable education financing solutions.

Amit Gainda, CEO, Avanse Financial Services said, “ECB is a unique way of raising funds from the best of global platforms. Based on this process, we have been able to create a new category of long-tenure social impact funding. The fund will be utilized to help more number of deserving Indian students to fulfil their academic aspirations. We will create strategic deployment plans to support the expansion and fulfilment of education aspirations of deserving students.”

Avanse Financial Services is dedicated to create robust platforms to motivate women student participation in higher education. Mr. Gainda added, “We strongly believe that educating women results into empowered families, stronger societies, a knowledgeable economy and ultimately, a prosperous nation. Hence, we will continue to develop products and services to encourage women to pursue their academic aspirations.”

Recently, Avanse Financial Services secured ₹250 crores under Government and regulatory initiatives. ₹100 crores have been raised through the Targeted Long Term Repo Operation (TLTRO) window 2.0 by RBI from leading public sector banks and ₹150 crores under the Partial Credit Guarantee (PCG) Scheme. The organization is one of the pioneers to have started funding non-conventional courses along with the large conventional ones. The NBFC funds courses such as STEM programs, MBA programs and also, some of the non-conventional courses like photography, music, aviation, animation that students want to pursue both in India and in international markets.

Business World

Avanse Financial Services Introduces an Enhanced Range of Education Financing Solutions

Sep 16, 2020 by Gouri Achary 0 Comments #Amit Gainda, #Avanse Financial Services, #Education Financing Solutions, #non-banking financial company (NBFC)

Mumbai, September 16, 2020: Avanse Financial Services, India’s new age, education-focused non-banking financial company (NBFC) has enhanced its education financing solutions to meet the evolving formats of education instruction delivery modules amidst the current pandemic scenario. With tailor-made financing solutions designed to cater to 12,000+ institutes and courses across ~50 countries, Avanse Financial Services aims to support all deserving students to pursue quality education in India and overseas.

Schools, colleges and universities worldwide had to halt campus activities to curtail the spread of the virus. This majorly paved the way for faster innovations in the ecosystem. Advanced methods of learning are now rapidly increasing to continue to impart knowledge to all students. The two formats of instruction delivery modules which are being discussed by educational institutions are – Hybrid (a mix of online & on-campus sessions) and In-Person Classes. Avanse Financial Services newly designed product will successfully enable the smooth transformation from one learning module to another.

The organization takes a student-centric approach when it comes to evaluating student profiles and designing product solutions.

• Student’s past academics, entrance test scores, the course selection and university/institute ranking are evaluated to analyze their employability potential.
• Under this philosophy and as per the changing market conditions, the organization has enhanced its products and processes to support its customers. For instance, GRE score has always been a vital parameter for evaluating a student. But since many students could not take this examination due to unavoidable circumstances, the organization has eliminated this score parameter and is considering the student’s Higher Secondary and Graduation level scores to analyze the profile.
• Another student-friendly feature has been added to the products designed for the USA market as the government is implementing changes in the non-immigrant visa types and educational institutions are shifting to an online module of teaching.
o The disbursement of the loan amount will be done based on the I-20 provided by the student.
o Initially, a student could only get the loan amount once he/she had the US visa in hand. This change has been incorporated so that the students can start the online course with the help of the disbursed tuition fee and then shift to any module in the future.
• Similarly, products for all other studies abroad destinations (such as Canada, New Zealand, the UK, Australia, Germany, Ireland) and for the domestic market have been modified the support the current structure of instruction delivery module.
• Students can start off with the online module and then smoothly transition to in-person sessions as and when the travel restrictions are suspended.
• Along with these features, the service proposition ‘speed to market’ helps the organization to sanction loan amount within 72 hours of application and its product proposition covers the holistic cost of education. These factors provide the company with an edge over its peers.

Amit Gainda, CEO, Avanse Financial Services said, “Though the outbreak of the pandemic has disrupted the regular livelihoods and has created never-seen-before situations, yet we should treat this as an opportunity to re-imagine our business processes and sharpen the existing ones to achieve newer heights. We have geared up to deliver the highest quality experience to our customers as usual even during these difficult times. If universities and colleges are opting for online and hybrid modules, we are creating appropriate solutions to suit the need of the hour. Countries such as Canada, Australia, and the UK are commencing to grant student visas. However, it may take some time to resume on-campus classes. Till the time the health concerns of this pandemic is brought under control and travel restrictions are suspended, educational institutions will conduct classes with the help of digital platforms. Keeping this scenario in mind, we have incorporated necessary modifications in our product offerings so that students can take timely decisions in terms of their future.”

Recently, Avanse Financial Services secured ₹250 crores under government initiatives. ₹100 crores have been raised through the Targeted Long Term Repo Operation (TLTRO) window 2.0 by RBI from leading public sector banks and ₹150 crores under the Partial Credit Guarantee (PCG) Scheme. The digitally agile NBFC plans to utilize the capital for the growth of the overall education ecosystem. The organization is one of the pioneers to have started funding non-conventional courses along with the large conventional ones. The NBFC funds courses such as STEM programs, MBA programs and some of the non-conventional courses like photography, music, aviation, animation that students want to pursue both in India and in international markets.