Home / Companies / News /  Avanse Financial Services hits AUM of 3,800 crore

MUMBAI: Avanse Financial Services, an education-focused non-bank lender, on Tuesday said it achieved assets under management (AUM) of 3,800 crore during the first half of FY22.

"The organisation witnessed 100% growth in its profit after tax [in the first six months of FY22] as compared to H1 FY21. Total loan disbursed during this period stands at 1,200 crore contributing towards a net worth of 947 crore. The digitally agile company has been focused on fulfilling academic aspirations of deserving students while setting newer benchmarks with regards to overall business performance," it said in a statement.

The lender said it focused on implementing its business continuity plan during the second wave of the pandemic to ensure highest level of customer experience and to create robust stakeholder value.

Amit Gainda, chief executive, Avanse Financial Services, said, “After witnessing the never-seen-before phase, I can strongly claim that the new world, in which we are living today, will never be the same as it used to be."

"During the first half of FY22, we observed the market very closely and ensured that we identify and leverage every opportunity to get back on track. Our deep domain knowledge enabled us to analyse the pent-up demand among students to pursue their pre-pandemic academic aspirations," he added.

The company has fulfilled educational dreams of 1.5 lakh academic aspirants across 15,000 institutes and courses in 50 countries. Avanse has also provided growth and working capital to 1,000 educational institutes catering to over 5-6 lakh students, as per the statement.

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