Bengaluru: School financing company, Shiksha Finance, secures Rs. 6.7 crores from Michael & Susan Dell Foundation and Aspada Investment Company. This investment will enable the organization to provide affordable loans to 2,300 schools over the next three years.
Michael & Susan Dell Foundation is committed to increase access to quality education for the poor. It has invested in market-based solutions to increase the supply of high-quality service providers for the affordable private schools. Joining hands with Shiksha Finance, this foundation will deal with the lack of availability of finance to invest in the improvement of infrastructure and quality.
V L Ramakrishnan, Director & CEO, Shiksha Finance, says, “We are glad to have Aspada and the Michael & Susan Dell Foundation invest in Shiksha. While education loans for higher education is quite common in India, Shiksha is addressing the vacuum in school financing through an innovative Go-To-Market solution. Enhancing Financial Inclusion in the education sector will eventually lead to more inclusive growth. We believe that improved education infrastructure at our schools will eventually translate into enhanced learning outcomes for our children”.
Founded by Ramakrishnan and Jacob Abraham in 2014, Shiksha Finance is a Chennai-based, RBI licensed Non-Bank Finance Company (NBFC) providing loans targeted at education entrepreneurs who seek to improve access to quality education. Shiksha Finance’s student education loan enhances financial inclusion targeted at parents who aspire to provide an uninterrupted education for their children. Shiksha is currently present in three states with 200+ loans processes to educational institutions till date.