Bengaluru-based Varthana Finance, specialising in loans for affordable private schools and higher education students, announced on Friday the acquisition of 1,000 schools owned by India School Finance Company (ISFC) across 14 states, valued at ₹126 crore.
This strategic acquisition includes over 100 schools from various districts of Karnataka, enhancing Varthana’s presence and commitment to improving education quality across the country. Steve Hardgrave, CEO and Co-founder of Varthana, emphasised the importance of this acquisition, stating, “Taking the ISFC portfolio under Varthana’s wing is a significant step in our journey to ensure that India’s schools are well supported to deliver quality education to the country’s 350 million young people.”
The acquisition is seen as a milestone in the educational finance sector for its scale and the synergy between Varthana and ISFC, which share a common goal of enhancing educational access and quality in India. Sandeep Wirkhare, CEO of ISFC, remarked on the transaction as an exemplary case of how impact institutions can create, stabilise, and transition a product segment for continued growth and development, all while maintaining strong customer and employee relationships.
