Varthana gets $3 million fund from Dell Foundation for school programmes

NEW DELHI: Bengaluru-based school finance company Varthana on Thursday said it has received funding of $3 million from the Michael & Susan Dell Foundation to expand its school transformation program.

Varthana's school transformation program ( STP) is an initiative aimed at improving the quality of learning in affordable private schools.

"The total investment in the proposed expansion of the STP is $10 million, of which the Michael & Susan Dell Foundation has contributed $3 million through an innovative pay-for-performance debt facility," Varthana said in a statement.

"The innovative facility allows participating schools and Varthana to be rewarded up to 10 per cent of the loan amount for improving student learning outcomes by 5 to 10 per cent," it added.

Varthana provides services such as debt financing, assessments in 337 participating schools across 5 states.