Exclusive: Classplus and Pravega to lead $6 Mn round in GyanDhan

GyanDhan, a platform in the education-finance space, is in the final stages of securing a funding round worth approximately $6 million, according to two individuals familiar with the development.

“Pravega Ventures and Classplus are jointly leading a funding round,” said a source. The individual, who requested to remain anonymous due to the confidential nature of the discussions, added that a few of GyanDhan’s existing investors are also expected to take part in this round.

Gray Matters Capital, Sundaram Finance, and individuals such as Satyen Kothari, Paula Mariwala, and Pravin Gandhi are the early backers of the New Delhi-based company.

GyanDhan is education-finance marketplace that connects students with over 15 banks and NBFCs. It also operates its own NBFC (licensed in 2021) and offers a SaaS platform for overseas education consultants.

As per sources, GyanDhan has facilitated over Rs 7,000 crore (approximately $840 million) in cumulative loan originations and has established an on-ground presence across 30 cities in India.

Founded in 2015 by Ankit Mehra and Jainesh Sinha, GyanDhan is eyeing a valuation of around $15-20 million, according to sources.

Regulatory filings reveal that Classplus and Pravega have already invested Rs 20 crore ($2.33 million) and Rs 10 crore ($1.16 million) respectively, with the remainder of the $6 million round expected to be finalized shortly.

Entrackr has reached out to GyanDhan, Pravega and Classplus for comments.

GyanDhan has seen rapid growth over the past few years. In FY24, the company posted an operating revenue of Rs 21.4 crore along with a profit of Rs 1.36 crore. Its financial results for FY25 are yet to be filed.

Pravega has previously invested in a handful of edtech-focused ventures, including GrayQuest and GreyAtom. Meanwhile, Classplus—a B2B edtech platform—has invested in Gyan Live, a Gujarat-based platform focused on state-level government exam preparation, as well as in Testbook. Notably, Classplus acquired its stake in Testbook through a secondary transaction.