About Avanse: Empowering Education Dreams
About Us
Avanse Financial Services was established in 2013 with the sole purpose of enabling students to achieve their
academic aspirations. We’re an education-focused NBFC that provides customised education financing solutions to every
deserving Indian student. Our range of solutions covers the holistic requirements of an education aspirant. We also
provide growth and working capital needs of educational institutes in India.
Warburg Pincus, a pioneer of global growth investing, holds the majority stake in Avanse Financial Services.
Kedaara Capital, an operationally oriented private equity firm pursuing control & minority investment opportunities
in India, Mubadala Investment Company, a sovereign investor managing a global portfolio aimed at generating sustainable
financial returns for the Government of Abu Dhabi, International Finance Corporation (IFC), an arm of the World Bank,
and Avendus PE Investment Advisors, are the other shareholders of the organisation.
At Avanse, we have a vast network of students enrolled in 1,750+
educational institutions spanning across 51 countries.
Furthermore, as of 31 March 2025, our overall distribution network stood at ~950, which includes education loan-focused
aggregators (marketplaces), and other loan intermediaries partnering with us and enabling us to fulfil the academic
aspirations of millions of students.
Mission
To make education financing seamless and affordable for every deserving Indian student.
Core
No deserving student should miss an opportunity to access quality education due to a lack of financing, irrespective of their social strata or co-borrower’s financial background.
Our Journey
New Investment in the Company
- Investment by IFC for an amount of 127.49 million
- The Company converted into a public limited company - Avanse Financial Services Limited
Business Growth Phase
- Crossed ~1,000 Crore AUM
First-year Completion of the Launch of Operations as an NBFC Providing Education Loans
- Change in name of the Company from 'Abhivruddhi Holdings Private Limited' to 'Avanse Financial Services Private Limited'.
Launch of New Business
- Launched the Educational Institution Loan business
New Business Line Launched & majority stake acquired by new shareholder
- Launched Digital Lending Business
- Acquisition of 80% stake by promoter, Olive Vine Investment Ltd., an affiliate of Warburg Pincus
New Investment, Launch of Avanse's Subsidiary & Enhanced Credit Ratings
- First tranche of investment by Kedaara Capital Growth Fund III LLP for an amount of 6,000 million
- Incorporation of a wholly-owned subsidiary - Avanse Global Finance IFSC Private Limited in GIFT CITY, Gandhinagar, Gujarat
- Upgraded credit rating from A+ to AA-
New Fund Line Created
- Executed credit agreement for $15 million from WorldBusiness Capital Inc., guaranteed by the US International DFC
Acquisition of Stakes & New Investments
- Second tranche of investment by Kedaara Capital Growth Fund III LLP for an amount of 2,000 million
- Acquisition of 4.13% stake by Kedaara Pichola Holding Limited for an amount of ~2,083 million
- Investment by Alpha Investment Company LLC, an affiliate of Mubadala and Avendus Future Leaders Fund II, to the tune of 9,000 million and 1,000 million, respectively.
- Change in name of the Company from 'Abhivruddhi Holdings Private Limited' to 'Avanse Financial Services Private Limited'.
- Investment by IFC for an amount of 127.49 million
- The Company converted into a public limited company - Avanse Financial Services Limited
- Launched the Educational Institution Loan business
- Crossed ~1,000 Crore AUM
- Launched Digital Lending Business
- Acquisition of 80% stake by promoter, Olive Vine Investment Ltd., an affiliate of Warburg Pincus
- Executed credit agreement for $15 million from WorldBusiness Capital Inc., guaranteed by the US International DFC
- First tranche of investment by Kedaara Capital Growth Fund III LLP for an amount of 6,000 million
- Incorporation of a wholly-owned subsidiary - Avanse Global Finance IFSC Private Limited in GIFT CITY, Gandhinagar, Gujarat
- Upgraded credit rating from A+ to AA-
- Second tranche of investment by Kedaara Capital Growth Fund III LLP for an amount of 2,000 million
- Acquisition of 4.13% stake by Kedaara Pichola Holding Limited for an amount of ~2,083 million
- Investment by Alpha Investment Company LLC, an affiliate of Mubadala and Avendus Future Leaders Fund II, to the tune of 9,000 million and 1,000 million, respectively.
Our Offerings
Student Loans
At Avanse, we believe in providing holistic education financing solutions to deserving students. Our education loans are designed to provide financial assistance across a wide spectrum of student needs. Our solutions include:
- Student loan International - We help students fund up to 100% of the cost of studying and living abroad!
- Education Loan Domestic - We enable students to achieve their academic aspirations by offering loans as per their academic requirements
Loans for Professionals
Enhancing your career with new skills has never been easier. Avanse will help you pay for an MBA or skills course with Executive Education Loans and Skill Enhancement Loans. When you partner with us, learning never has to stop!
- Skill Enhancement Loans - Professionals can opt for a loan to learn new skills that will further their careers.
- Executive Education Loans - We provide student finance for postgraduate study for professionals looking to grow and climb the corporate ladder.
Institution Loans
We are committed to building education infrastructure across India. We provide Education Institution Loans to ensure that children and adults are never too far away from quality educational facilities. All education and training institutions in India can apply for this loan to help with their capital and operational expenditures.
Cultural Pillars
Governance
We believe in good governance. You work independently but have peers and seniors around for help whenever you need it!
Accountability
We work with pride and take responsibility for our actions and decisions. You enjoy the rewards of your work!
Inclusivity
The word discrimination does not exist in our dictionary. You can join Avanse as long as you're passionate about the work we do. Nothing else matters.
Meritocracy
If you do well, you get to rise through the ranks. Your performance dictates where you go next.
Consistent Value Creation
We've built an environment that allows you to thrive. There are new opportunities for you to grow and learn every single day.
Happiness Quotient
We measure our success based on the happiness of our people. The happier you are, the better we perform!
Avanse Financial
Services Ltd
Board of Directors
Mr. Neeraj Swaroop
(Chairman and Independent Director)
Mr. Swaroop is the Chairman and Independent Director of our Company. He holds a Bachelor's degree in Technology (Mechanical Engineering) from the Indian Institute of Technology, Delhi and a postgraduate diploma in Management from the Indian Institute of Management, Ahmedabad. He has experience in the banking and financial services sector. He worked with organisations such as HDFC Bank Limited and Standard Chartered Bank. He is currently serving as the director on the board of directors of HDFC Securities Limited, SBFC Finance Limited and Spandana Sphoorty Financial Limited and is an operating partner with Kedaara Capital Fund II LLP.
Ms. Vijaylakshami R. Iyer
(Independent Director)
Ms. Iyer is an Independent Director of our Company. She holds a Master's degree in Commerce from the University of Bombay. Previously, she worked with the Central Bank of India and the Bank of India. She is presently on the board of various companies, including Glenmark Pharmaceuticals Limited, Aditya Birla Capital Limited, ICICI Securities Limited and Computer Age Management Services Limited.
Mr. Narendra Ostawal
(Non-Executive Director)
Mr. Ostawal is the Non-Executive Director of the Company. He holds a Bachelor's degree in Commerce from Bangalore University, a Postgraduate Diploma in Management from the Indian Institute of Management, Bangalore, and a Chartered Accountancy degree from The Institute of Chartered Accountants of India. He also attended the International Executive Business Program at the University of Chicago's Graduate School of Business as an exchange scholar. Mr. Ostawal has been associated with Warburg Pincus India Private Limited since 2007, where he currently holds the position of Managing Director and leads the Warburg Pincus India Private Limited's investment advisory activities in India. Previously, he has worked with 3i India Private Limited and McKinsey & Company Inc.
Mr. Ravi Venkatraman
(Independent Director)
Mr. Ravi is an Independent Director of our Company. An ACA from the Institute of Chartered Accountants of India, Mr. Ravi has completed an ICWA from the Institute of Cost & Works Accountants of India. He has experience in the banking and financial services sector. He worked with Mahindra & Mahindra Financial Services Limited. He is presently on the board of various companies, including ESAF Small Finance Bank Limited, Kotak Mahindra Prime Limited and SBFC Finance Limited.
Ms. Savita Mahajan
Independent Director
Ms. Mahajan is an Independent Director of our Company. She holds a Bachelor's degree in Arts (honours) from the University of Delhi and a Postgraduate Diploma in Management from the Indian Institute of Management, Ahmedabad. Previously, she has worked with the Indian School of Business, Hyderabad, Karvy Consultants Limited and Maruti Udyog Limited. She is presently on the board of various companies, including Aurobindo Pharma Limited and India Shelter Finance Corporation Limited.
Mr. Amit Gainda
(Managing Director & Chief Executive Officer)
Mr. Gainda has an illustrious career spanning over two decades in the BFSI sector. He has built businesses focused on sustained growth and profitability through decisive strategic choices in businesses, people, technology, and other organisational competencies. Under his strategic guidance and vision, Avanse Financial Services has strengthened its leadership position in the education financing segment. Mr. Gainda has completed his Postgraduate Programme in Management from the International Management Institute. He has done the INSEAD leadership programme for Senior Indian Executives from INSEAD. Prior to joining Avanse, he worked with GE Money Financial Services Limited, Bajaj Auto Finance Limited, Citicorp Credit Services India Limited, Dewan Housing Finance Corporation Limited and SB Leasing and Finance.
Mr. Sunish Sharma
(Non-Executive Director)
Mr. Sharma graduated with honours from Delhi University and is a gold medallist from the Indian Institute of Management, Calcutta, where he did his MBA. He is also a qualified Cost & Work Accountant. He has over 25 years of experience encompassing the full life-cycle of private equity in India across financial services, consumer, business services & technology, healthcare, and industrial sectors, and across private and public markets. He is the founder and Managing Partner of Kedaara Capital. Prior to founding Kedaara, he served as a Managing Director at General Atlantic and worked as a Management Consultant at McKinsey.
Mr. Hemant Mundra
(Non-Executive Director)
Mr. Mundra holds a Bachelor's Degree in Technology in Chemical Engineering from the Indian Institute of Technology, Mumbai, and a Postgraduate Diploma in Management from the Indian Institute of Management, Ahmedabad, where he was a gold medalist (Institute Rank 1). He has also done his CFA from the CFA Institute, the USA. He has over 10 years of experience in investments in financial services and consumer sectors. He is presently associated with Warburg Pincus India Private Limited as Principal. Prior to that, he worked with organisations like Kedaara Capital Advisors LLP, Rothschild and Deloitte.
Mr. Luca Molinari
(Non-Executive Director)
Mr. Luca Molinari holds a degree in Economics and Business Administration from Bocconi University in Milan, Italy. He has over 25 years of experience in private equity, public investing and M&A transaction structuring in Europe, North America, South America and the Middle East. He is currently associated as an Executive Director in Direct Investments with Mubadala Investment Company in Abu Dhabi, where he is responsible for Financial Services and Asia Strategy. Prior to joining Mubadala, he was associated with Warburg Pincus and Goldman Sachs. From April 2021 to April 2024, he was a Non-Executive Director of Unicredit, a pan-European banking group.
Mr. Rakesh Bhatt
(Additional Director)
Mr. Rakesh Bhatt is a seasoned professional with over three decades of experience in the financial services and technology sectors. He is the founder & CEO of Rahi Platform Technologies. Mr. Bhatt is also a member of the Board of Directors of Bajaj Finserv Health Ltd., Bajaj Financial Securities Ltd., Snapwork Technologies Pvt. Ltd. and Hina Bhatt Art Foundation. He holds a Master's degree in Computer Applications from Gujarat University and a Bachelor of Science in Physics from the Maharaja Sayajirao University of Baroda. Prior to his current role, he held key leadership positions at Bajaj Finserv for nearly 15 years. He also worked with several other renowned organisations, such as AIG Consumer Finance, 3i Infotech, Apnaloan, GE Capital and Reliance Industries Ltd.
Management Team
Amit Gainda
(Managing Director & Chief Executive Officer)
Amit has an illustrious career spanning over two decades in the BFSI sector. He has built businesses focused on sustained growth and profitability through decisive strategic choices in businesses, people, technology, and other organisational competencies. Under his strategic guidance and vision, Avanse Financial Services has strengthened its leadership position in the education financing segment. Mr. Gainda has completed his Postgraduate Programme in Management from the International Management Institute. He has done the INSEAD leadership programme for Senior Indian Executives from INSEAD. Prior to joining Avanse, he worked with GE Money Financial Services Limited, Bajaj Auto Finance Limited, Citicorp Credit Services India Limited, Dewan Housing Finance Corporation Limited and SB Leasing and Finance.
Vikrant Virendra Gandhi
(Chief Financial Officer)
Vikrant is responsible for managing the Company’s financial accounting & reporting, financial planning & business analytics, governance framework and taxation functions. He holds a Bachelor’s degree in Commerce from R A Podar College of Commerce and Economics, University of Bombay, a postgraduate diploma in Treasury and Forex Management from the Association of Certified Treasury Managers and has completed a General Management programme (Executive Education) from the Indian School of Business, Hyderabad. He is a qualified CA and ICWA. He has experience across the Banking and Financial Services sector. Prior to joining our Company, he worked with ICICI Home Finance Company Limited and ICICI Bank Limited.
Vivek Kumar Baranwal
(Chief Business Officer - Education Loan Domestic Business)
Vivek oversees the business strategy, credit risk, and collections of the educational institution loans and education loans domestic vertical. He has a Bachelor's degree in Commerce from the University of Calcutta and completed an Advanced Management programme from the Indian Institute of Management, Calcutta. He is a qualified CA from the Institute of Chartered Accountants of India. He has experience in the banking, financial services and insurance sectors. Prior to joining our Company, he worked with Reliance Capital Limited and Reliance Commercial Finance Limited.
Rajesh Narayan Kachave
(Chief Business Officer - Student Lending International Business)
Rajesh oversees the student financing business vertical of our Company. He holds a Bachelor's degree in Arts from Dr. Babasaheb Ambedkar Marathwada University, Aurangabad. He has experience in the banking, financial services and insurance sectors. Prior to joining the Company, he worked with HDFC Bank Limited.
Samir Kumar Mohanty
(Chief Technology & Digital Transformation Officer)
Samir is responsible for implementing tech-led initiatives, digitising processes, and adopting emerging technology to enhance business efficiency and governance. He holds a Postgraduate Diploma in Business Administration from ICFAI Business School, Hyderabad and has also completed the leadership in Fullbright-Nehru-CII fellowship for the Management program from the Tepper School of Business, Carnegie Mellon University, Pennsylvania. He has experience in banking, financial services and insurance. Prior to joining our Company, he worked with Tata Capital Financial Services Limited
Amit Yadav
(Chief Treasury Officer and Chief Product Officer)
Amit is responsible for managing the Company’s treasury function and product strategy. He holds a Bachelor’s degree in Engineering (Chemical Engineering) from the University of Roorkee and a Master’s degree in Business Administration from the Robinson College of Business, Georgia State University, USA. He has experience in the M&A and banking and financial services sectors. Prior to joining the Company, he worked with Religare Support Services Limited.
Ganesh Raghuraman Iyer
(Chief Audit Officer)
Ganesh is responsible for managing the management assurance and audit function of our Company. He holds a Bachelor's degree in Commerce from the University of Mumbai and is a qualified CA from The Institute of Chartered Accountants of India. He has experience in the banking, financial services and insurance sectors. Prior to joining our Company, he worked with Tata Capital Financial Services Limited and DBOI Global Services Private Limited.
Sorabh Malhotra
(Chief Risk Officer)
Sorabh heads the risk function of our Company. He holds a Bachelor's degree in Commerce from the University of Delhi and a Postgraduate Diploma in Management from Lal Bahadur Shastri Institute of Management, Delhi. He has experience in the banking, financial services and insurance sectors. Prior to joining our Company, he worked with NeoGrowth Credit Private Limited, Bajaj Finance Limited, Cholamandalam DBS Finance Limited and Capital First Limited.
Yogesh Rawat
(Chief Operating Officer)
Yogesh is responsible for managing the operational effectiveness of the processes of the value chain. He holds a Master's degree in Business Administration from the Indian Institute of Technology, Bombay and Washington University, St. Louis. He is an associate member of the Institute of Chartered Accountants of India and is a qualified CA from the Institute of Cost and Works Accountants of India. He has experience in the banking, financial services and insurance sectors. Prior to joining our Company, he worked with ICICI Home Finance Company Limited and GE Money Financial Services Private Limited.
Rajiv Kumar
(Chief Compliance Officer)
Rajiv is responsible for managing the compliance function of our Company. He holds a Master's degree in Commerce from the Annamalai University, Annamalainagar and is an associate member of the Institute of Company Secretaries of India. He has experience in the banking, financial services and insurance sectors. Prior to joining our Company, he worked with Fullerton India Credit Company Limited, India Infoline Finance Limited and Bajaj Finance Limited.
Achal Goel
(Chief People Officer)
Achal leads the Human Resource team in developing and implementing best practices, policies and procedures to support employees of our Company. He holds a Bachelor's degree in Engineering (Computer Engineering) from the YMCA Institute of Engineering, Maharshi Dayanand University, Rohtak and a Master's degree in Business Administration from the University of Delhi. He has experience in the banking and financial services sector. Prior to joining our Company, he worked with Kotak Mahindra Bank Limited and Citibank NA.
