Bengaluru: Digital non-banking company Eduvanz has raised USD 5 million as part of its Series A round led by Sequoia India, along with existing investor Unitus Ventures.
Eduvanz will be utilised to create technologies around artificial intelligence-based risk management, and easier collections to support borrowers through their lending journey. The company will also look at creating new credit products and expand its reach to tier 2 and 3 geographies in India.
Eduvanz provides loans to students for upskilling as well as school fees, and leverages parameters like social media scores, education scores as well as taking guardians or parents as guarantors, to enhance its underwriting process.
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