Eduvanz bags $3m in new investment round

Student loan startup Eduvanz has secured $3m in a Series A round led by Sequoia’s SCI Investment VI fund.

The Mumbai-based startup also enjoyed a capital influx from Redwood Trust and QED Innovation Labs, Inc42 reported.

The startup uses technology to help students get credit scores based on their socio-economic and demographic background.

This is not the first student loan startup Sequoia has invested in this year.
Back in March, FinTech Global reported that Leap Finance had enjoyed a capital influx of $5.5m in a round led by the investor.

And those are not the only student loan startups to raise capital this year. In May, Splash Financial, a student loan refinance marketplace,collected $12.3m in its Series A round to support growth in the US.

In April, Savi Solutions PBC, a startup helping students improve their loan repayments, collected $6m in its Series A round.

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