Bangalore: Varthana, a Bangalore based startup that deals with  the educational sector by providing  monetary and funding benefits to private education institutions, has  procured undisclosed amount as  investment from Accion’s Venture Lab, reports DealCurry.

Varthana, founded by Steve Hardgrave and Brajesh Mishra, provides loans to affordable private schools in India byprovidingg access and affordability of quality education for India’s poor and emerging middle class.

The company collaborates with entrepreneurs who have started schools for the country’s under-served population and provides these educational institutions with the resources they need in order to cope up with the dynamic and fast-growing education sector.

Varthana coordinates a pilot program in India where it tests the effectiveness of providing low-cost laptops and training affordable private schools in Bangalore. Secured and unsecured loans of 5 lakhs are provided by the company above 3-5 years of tenure. In addition, it also provides support for purchase and development of infrastructure; invest in teacher training and introduction of new learning methods, tools, resources and so on.

Accion Venture Lab launched in 2012; is a $10 million seed capital initiative, which invests in start-up companies that help in expanding global financial inclusion. It invests about $100,000- $5, 00,000 and lines up with other seed funds or angel investors. Primarily, its investment focuses on the areas of mobile financial services and new technology for bottom-of-the pyramid finance.

It comprises of other investments like Coda Payments, Singapore; Demyst.Data, Hong Kong; PayClip, San Franciso and Salud Facil, Mexico.

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