[Funding]: ISFC received commitment of $30 mn to deploy into the Education Financing Sector

ISFC has tied up equity, debt, co-lending and asset sale facilities of $30 mn from a stellar consortium. It includes shareholder Gray Matters Capital, Incred, U GRO and Profectus Capital. The funds will further be used to fulfil their vision of becoming India’s largest Education financing lending partner.

About ISFC

Indian School Finance Company Private Limited or ISFC is a Non-Banking Financial Company. It has the business of lending to educational institutions. Moreover, ISFC caters exclusively to entrepreneurs managing educations institutions. It assists schools and other educational institutions in capacity building through infrastructure improvements. Thus, it helps students to access quality education.

The company will use this fund to expand its current partner network from 6500 schools to 15000. In addition, it will introduce significant offerings focusing on student financing for K-12, coaching and skill development. For this, it will disburse more than $100MM USD over the next 2 years. ISFC further aims to cement school leaderships and become a lending partner to every stakeholder in the education sector.

What stakeholders have to say

Erika Norwood, President and CEO, Gray Matters Capital is confident about the new focus. She states, “We believe this sector is undervalued. It will go through significant evolution and expansion in the next few years. GMC will support ISFC in its mission to become the largest Education financing player in India.”

The company has also strengthened its leadership team by bringing in Sandeep Wirkhare as MD and CEO. It empowers him with a new board comprising senior professionals from the lending and education sector. Mr Sandeep Wirkhare brings more than two decades of Financial Services experience. It includes SME Lending, Risk and Technology and has in-depth experience in building and managing large NBFC’s.

Reflecting on the new appointment, Sandeep said, “Our focus will be to capitalize on our strength. We will partner with institutions to help them digitize their operations in the coming year. And drive the engine of growth by consolidating our conventional lending offerings and aggressively pursue student financing for K-12 schools, coaching, and skill development courses. Education will drive the future. Thus, IFSC plans to be the leading enabler as we aim to become the choice of lender to all players in this space.”