Education loans marketplace GyanDhan raises money from Sundaram Finance

HYDERABAD: Sundaram Finance Group, through its subsidiary Sundaram Finance Holdings, has invested an undisclosed amount in Delhi-based education financing startup GyanDhan. The company, founded by two IIT alumni, Ankit Mehra and Jainesh Sinha, is an online marketplace for education loans for students who want to study abroad.

“We are delighted that Sundaram Finance has shown confidence in us, and will help us grow as a responsible financial services business,” said cofounder Mehra.

GyanDhan uses proprietary logic to underwrite large ticket education loans and since its inception in 2015, the company has helped over 250 students procure education loans of approximately Rs 60 crore.

Sundaram Finance Group has been actively pursuing initiatives in the areas of digital technology and is engaging with startups in the areas of financial services and technology. “The aim is to associate with firms where there is synergy with group strategy,” said T T Srinivasaraghavan, managing director, Sundaram Finance.

GyanDhan previously received seed financing from Stanford Angels and Entrepreneurs, and Harvard Angels; and angel funds from Satyen Kothari, founder of Cube and Citrus Pay.