Edu loans platform Credenc raises $2.5 mn seed funding in round led by Omidyar Network India

Emerging Technologies

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October 23, 2019

Edu loans platform Credenc raises $2.5 mn seed funding in round led by Omidyar Network India

Source: Economic Times

Credenc, the digital education loans platform for higher education in India, has raised Rs 17.8 crore ($2.5 million) in seed funding, led by Omidyar Network India. Other investors who participated in the round include EMVC , Better Capital and IIMK Alumni Fund.

The company plans to use the funds to expand operations to a 1000 colleges across 50 cities over the next two years.

Read the full article here.

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Omidyar Network India invests in bold entrepreneurs who help create a meaningful life for every Indian, especially the hundreds of millions of Indians in low-income and lower-middle-income populations, ranging from the poorest among us to the existing middle class. To drive empowerment and impact at scale, we work with entrepreneurs in the private, nonprofit and public sectors, who are tackling India’s hardest and most chronic problems. We invest in the areas of Advancing Cities, Digital Society, Education & Employability, Emerging Technologies, Financial Inclusion & Well-being and Property Inclusivity.
Omidyar Network India is part of the Omidyar Group, a diverse collection of companies, organizations and initiatives, supported by philanthropists Pam and Pierre Omidyar, founder of eBay.