The funds will be used for scaling operations, strengthening its consultant partnership network, expanding the team, and investing in technology.
“With this backing, we’re doubling down on building the infrastructure and technology that will unlock educational opportunities for millions of families across India,” said Ankit Mehra, cofounder and chief executive of GyanDhan.
Founded by IIT alumni Mehra and Jainesh Sinha, the New Delhi-based startup offers education financing solutions for Indian students studying in India and abroad.
The company follows a hybrid model, combining a marketplace with lending through its own non-banking finance company (NBFC) arm. So far, it has facilitated education loans worth over Rs 7,000 crore.
This comes at a time when there is a temporary dip in the global study abroad market driven by macroeconomic challenges and stricter visa regulations. However, according to the firm, the long-term demand for international education remains strong.
“The rising cost of higher education—both in India and overseas—is intensifying pressure on middle-class family budgets. Yet, India’s education loan penetration remains under 20%, starkly lower than over 45% in developed markets like the US, highlighting a substantial access and affordability gap,” the company said.
The platform plans to broaden its presence to more than 50 tier II and tier III cities, up from its current footprint in 30 cities. It also aims to double its network of partnered financial institutions from 15 to 30 banks and NBFCs.
Commenting on the investment, Mukul Rustagi, cofounder and chief executive of Classplus, said that GyanDhan has managed to survive in a space which is tough but offers a huge TAM.
“Education financing in India sits at a powerful intersection of fintech innovation and social impact. GyanDhan’s dual strategy of marketplace scale and focussed NBFC lending, combined with their SaaS platform, demonstrates exceptional market understanding,” said a spokesperson at Pravega Ventures.
In March, Leap Finance, the student lending arm of study abroad platform Leap, secured $100 million in debt funding from London-headquartered bank HSBC through its Asean Growth Fund.
