Northern Arc Capital, a leading debt platform for financial inclusion focussed institutions, and Triodos Investment Management, Netherlands-based impact investment fund, have together invested ₹30 crore in non-convertible debentures issued by Chennai-based school finance company Shiksha Financial Services.
Shiksha offers loans to educational institutions and education loans to parents.
According to a press release, Shiksha will use the money to grow its loan portfolio, to deepen presence in south India and expand to Madhya Pradesh, Gujarat and Rajasthan.
Founded by VL Ramakrishnan and Jacob Abraham in 2014, Shiksha provides loans to educational institutions for their working capital needs, to improve infrastructure and create new assets. Its study loan is designed to ensure uninterrupted education for children. It is present in five States in the South, serving more than 2,000 schools and over 2.2 million students.