Mubadala Investment Company, the sovereign investment company based in the UAE, has announced its new investment in Avanse Financial Services Limited in India. Avanse is a non-banking financial company that focuses on education financing and provides advanced technological services. The funding round for Avanse was led by Avendus PE Investment Advisors Private Limited through the Avendus Future Leaders Fund II.
This investment is expected to strengthen Avanse’s position in the rapidly evolving education financing market by enhancing customer experience and achieving sustainable and profitable growth. It marks Mubadala’s first investment in the financial services sector in India and is part of the company’s plan to expand its presence in Asia by 2030.
Avanse is the second largest non-banking financial company in India in the field of education financing. The company has contributed to fulfilling the aspirations of students in India and has bolstered growth in the education sector. As of December 2023, Avanse’s assets were valued at approximately 5.5 billion UAE Dirhams.
Luca Molinari, Head of Asia and Financial Services at Mubadala, commented: “Avanse is a leading and established company in the education financing sector, and we are pleased to collaborate with them and support their efforts to empower the youth in India.”
Narendra Ostawal, Managing Director and Head of Warburg Pincus in India, stated: “Avanse has become a leader in education financing in India, and we are happy to support this success and growth.”
Amit Gainad, Managing Director and CEO of Avanse Financial Services, added: “We are grateful to our new strategic investors and look forward to enhancing our efforts in education financing and providing innovative services to meet the needs of students and educational institutions in India.”
