Eduvanz, on the other hand, is a platform to enable people to follow their passions and excel. Eduvanz offers no-interest loans to enable learning for students who need financial help. Started in 2016 by Varun Sharma and Raheel Shah, Eduvanz has disbursed almost ₹200 crore in loands and aided people in 25 different cities in India. The acquisition couldn’t come at a better time.
The primary reason for the acquisition is Eduvanz’s attempt to reach out to captains of industry and educational institutes. By increasing their outreach, Klarity will be able to offer their services to many more people who have been shaken by the pandemic. The financial aspects of this deal are not public just yet. Eduvanz was able to secure Series A funding from Sequoia Capital, an American capital venture firm. The funding raised was almost $5 million (₹37crores).
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