Bengaluru, January 24, 2026: Varthana Finance, a non-banking financial company (NBFC) focused on the affordable education sector, has raised approximately USD 16.5 million (₹150.78 crore) through a combination of international debt financings to support the expansion of school infrastructure across India. The funding comprises a USD 6 million loan from WaterEquity, a USD 5 million Non-Convertible Debenture (NCD) investment from Symbiotics, and a EUR 5 million External Commercial Borrowing (ECB) from Triple Jump.
According to the company, the capital will be deployed to strengthen financing support for affordable private schools, particularly in peri-urban and rural regions. A portion of the funding will focus on improving water, sanitation and hygiene (WASH) infrastructure in underserved school communities, with the aim of creating safer and healthier learning environments.
Commenting on the partnership, Amit Agarwal, Head of South and Central Asia for Financial Institutions at WaterEquity, said, “Children spend a significant portion of their day at school, and access to safe, dignified WASH facilities is essential to improving attendance and learning outcomes - particularly for girls. Varthana’s extensive network of affordable private schools provides a strong platform to scale these improvements, while also advancing sustainable education infrastructure.”
Triple Jump noted that its investment reflects a broader commitment to inclusive education financing. Sylvie Gal, Regional Manager, Asia Pacific at Triple Jump, said, “This investment reflects our commitment to supporting scalable education financing models that strengthen school infrastructure and improve learning outcomes in underserved communities. Varthana’s focused approach to financing affordable private schools enables long-term improvements in learning environments.”
Symbiotics also highlighted the alignment between the investment and its impact mandate. Prashant Bhardwaj, Regional Manager, South Asia at Symbiotics, said, “We are delighted to work with Varthana, as their focus on affordable education aligns well with our mandate to channel capital towards institutions delivering sustainable social impact in emerging markets.”
Welcoming the diversified funding, Steve Hardgrave, Wholetime Director and Executive Vice Chairman of Varthana, said, “Access to quality education goes hand in hand with safe infrastructure and healthy learning environments. This diversified pool of international capital allows us to scale our impact responsibly, supporting affordable schools with long-term financing for infrastructure, including WASH, while continuing to strengthen the education ecosystem for millions of students across India.”
The funding reflects growing international investor confidence in Varthana’s education-focused lending model and its ability to combine financial performance with measurable social outcomes. The company stated that the new capital will contribute to improved public health outcomes, higher school attendance and progress towards inclusive and equitable education across the country.
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