Tuesday, September 14, 2021

Eduvanz Partners With Salesforce To Simplify Lending To Students

Salesforce (NYSE:CRM), the global leader in CRM, today announced that Eduvanz, a digital finance company that provides education loans, will be deploying Salesforce to provide students easy access to financing options throughout their learning journey. 

Eduvanz was founded in 2016 with the mission to empower students to make educated and informed decisions by providing financial resources. Eduvanz is the preferred ‘Lender for Learners’, offering education loans with flexible financing solutions starting from zero interest for students, skill seekers, and learners of all ages. Eduvanz leverages proprietary algorithms and predictive analytics to provide loans based on the future employability of learners. 

With the deployment of Salesforce Sales Cloud, Service Cloud, Heroku and Anypoint Platform, Eduvanz is looking to expand their services by introducing a Loan Origination Solution that offers the flexibility to support a range of new products with varying levels of complexity in a seamless manner. The new journeys would enable learners to not only fund their fees for education but also ancillary spends such as digital devices, hostel spends, transportation, to facilitate a seamless learning experience. Whishworks, a Strategic MuleSoft Partner, will be implementing MuleSoft’s Anypoint Platform as the integration layer to seamlessly connect Eduvanz’ different data sources with Salesforce. 

Comments on the news:

Varun Chopra, CEO, Eduvanz, said: “At Eduvanz, we believe that finance should not become a hindrance in a learner’s path to success. Despite the abundance of opportunities, what often restricts students, learners, and parents from higher education is the lack of easy, fast, and affordable financial assistance. Technology is extremely crucial to our business and we want to create a platform that meets all the financing needs of a learner. By  partnering with Salesforce, we aim to further simplify the process of financial assistance throughout a learner’s journey while also increasing our footprint in the education sector.” 

Arun Kumar Parameswaran, SVP & Managing Director, Sales & Distribution, Salesforce India, said: “Seismic digital-first shifts from traditional business models and workplaces has put the focus back on skills, with individuals across demographics looking to prepare for the jobs of tomorrow. The democratisation of skills is an imperative, it needs to reach every country, industry and community equally. We are delighted to be the technology partner for Eduvanz on this journey of democratising education.”  

About Eduvanz: 

Eduvanz is an NBFC Fintech which is a “Lender for Learners” that enables learners to ‘Study Now and Pay Later' in small easy-on-the-pocket installments. The core objective of the company is to make education accessible to all learners across K-12, Test-Prep, Upskilling & UG/PG segments.Since its inception in 2016, the company has disbursed more than $75Mn worth of loans benefiting over 60,000 learners across various education loan categories such as upskilling, school fee financing among others. Eduvanz has partnered with top banks and NBFC to get access to a large capital base at lower cost of capital compared to other Fintechs. Eduvanz has recently raised its Series B Round from Juvo, Sequoia Capital and Unitus Ventures. Eduvanz has raised over $ 10mn in debt from various debt partners like Northern Arc and Vivriti among others. For more information visit: www.eduvanz.com

About Salesforce 

Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

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