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Sequoia leads $5m funding in Indian education loan startup

Online loan provider Eduvanz to invest in new credit products and AI tools

Eduvanz provides loans in collaboration with educational institutes via its app, through which users can apply for a loan, receive updates on the approval process and make repayments.   © Reuters
AVANISH TIWARY, KrASIA | India

BENGALURU -- Mumbai-based fintech startup Eduvanz said Thursday it had raised $5 million in its series A funding round, which was led by Sequoia Capital India with participation from existing investor Unitus Ventures.

The latest round takes total funding in the provider of online loans for education to around $6.7 million.

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