EDUVANZ FINANCING PRIVATE LIMITED

Business Overview

• Eduvanz Financing Pvt Ltd, brand "Eduvanz", is an RBI-registered NBFC founded in 2016 that provides education/skilling loans for career-focused, vocational and professional certification courses, finance, healthcare, banking, analytics, technology, etc., via a digital-first, instant-approval lending platform with flexible EMI options.
• It partners with training institutes/ed-tech platforms and co-lends with larger NBFCs/banks.
• It is a DPIIT-recognised startup with ~284 employees (Apr 2024) and 3 subsidiaries in the education-fintech space.
• Source: eduvanz.com, TheCompanyCheck.

Sector & Classification

NBFC - Financial services / education lending; CIN activity code U65999 (Other financial service activities n.e.c.)

Directors & Key Management

Current board per TheCompanyCheck (most recent snapshot): Varun Chopra (Director since 29-Aug-2016) and Honey Pamnani (Director since 30-Jun-2025). Tofler additionally lists Raheel Chetan Shah, DIN 06676836 (~6 yr tenure) as a director/shareholder; his current status is uncertain since TheCompanyCheck's later snapshot does not show him, suggesting a possible resignation not yet reflected everywhere. DINs found: Varun Chopra - 06701052; Raheel Chetan Shah - 06676836; Honey Pamnani - DIN not obtained. Sources: Tofler, TheCompanyCheck (conflict noted on board composition/timing).

GST Registrations

Primary GSTIN (Maharashtra/Palghar): 27AAECE3790Q1ZY - Regular taxpayer, registered 21-Sep-2017, status Active. Second registration (Delhi): 07AAECE3790Q1Z0 - registered 27-Nov-2022, status Active. PAN AAECE3790Q; home state Maharashtra; at least 2 state GST registrations identified. Confidence: partial - found via a single aggregated web search snapshot, not independently cross-verified on a dedicated knowyourgst/findgst individual GSTIN page (those pages did not return data on this attempt), so treat as partial/unconfirmed pending a second source.

Financials

Funding History

Shareholding

• Detailed shareholding pattern, shareholder-wise % holding, is paywalled on Tofler and not obtained.
• Known equity-holding directors flagged by Tofler: Raheel Chetan Shah and Varun Chopra, both tagged "Shareholder" in addition to Director, exact % not obtained.
• Given Series A/B/bridge institutional rounds, cap table also includes Sequoia Capital India, Juvo Ventures, Unitus Ventures, Capria Fund and Peak XV Partners at unspecified percentages - not obtained precisely.

Loans & Charges

• Per Tofler (charges page): Cholamandalam Investment & Finance Co
• Per TheCompanyCheck, different/later snapshot: open charges ₹89.96 crore, satisfied charges ₹529.43 crore, 84 total charge records historically.
• Note: the 96 cr, - likely reflects different snapshot dates as charges are periodically satisfied/refinanced
• Both are reported here with source attribution rather than reconciled.

Related Parties

• Subsidiaries, per Tofler group page: Educred Technology Private Limited, Maharashtra, inc. 2020, paid-up ₹21 lakh
• Eduvanz Innovation Private Limited, Maharashtra, inc. 2022, paid-up ₹1 lakh
• Eduvanz Credit Finance Private Limited, Delhi, inc. 2022, paid-up ₹1 lakh. Director-linked entity: Springb Learnings LLP, Delhi, active, ₹50,000 paid-up capital, via one common director. Source: Tofler.

Credit Ratings

• CRISIL: BBB-/Stable on long-term bank facilities/borrowings, rating rationale dated 21-Jun-2024, prior rationale 15-Nov-2023, per crisil.com rating-document URLs surfaced in search.
• Rating self-reported on eduvanz.com as well.
• Rating rationale commentary notes "acceptable capitalisation metrics for its current size of operations" and "first-mover advantage in a specialist area like education financing." Confirmed by 2 independent references, CRISIL document filenames + company site, though the CRISIL rationale PDF itself was not directly opened - treat as partial/confirmed-by-reference rather than primary-document-verified.

Legal & Compliance

• Indian Kanoon records, Bombay High Court and Madhya Pradesh High Court, show: (1) Jatin Rajput vs Eduvanz Financing Private Limited - Arbitration Petition, Bombay High Court, hearings 17/25-Aug-2021 and 19/20-Oct-2022, before Justice B.P.
• Colabawalla. (2) Eduvanz Financing Private Limited vs Intoten Innovations Private Limited - Commercial Suit, Bombay High Court, hearings Jul-2026, before Justice Abhay Ahuja. (3) Vishal Jain vs State of Madhya Pradesh - criminal matter referencing a loan of ₹1,53,400 sanctioned by "Eduvanz Finance," MP High Court, 2021-2023. (4) Amit Kumar Jain vs State of Madhya Pradesh - MP High Court, Dec-2021. (5) Ronak Rathore vs State of Madhya Pradesh - MP High Court, Apr-2023, borrower-side criminal/recovery-adjacent matters referencing Eduvanz loans.
• None of these appear to be regulatory/insolvency actions against the company itself, the Bombay HC matters are ordinary commercial/arbitration disputes; the MP matters are borrower-side criminal cases referencing Eduvanz as the lender.
• Source: Indian Kanoon.

Competitive Landscape

• Avanse Financial Services, large-scale, dedicated education-loan NBFC
• Auxilo Finserve, mid-scale education loan NBFC
• Propelld, mid-scale, edtech-focused education financing
• Financepeer, edtech/skilling-focused lending, similar scale
• Leap Finance/Leap Scholar, overseas education loans, larger scale/higher funding
• Credenc, education loan marketplace/NBFC, similar-to-smaller scale. Eduvanz differentiates via its focus on skill-based/vocational and career-certification courses rather than traditional higher-education/study-abroad loans.

Frequently Asked Questions