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Hyderabad based Non-Banking finance company IFSC raises $6M from GrayMatters Capital

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Indian School Finance Company (ISFC) is a non-banking finance company engaged in the business of lending to educational institutions and entrepreneurs that manage such institutions.

Hyderabad, Oct 14, 2016. Red Newswire/–

Founded in 2009, IFSC has raised a total funding of $11 million till date. It raised a series A funding of $5 million from GrayGhost Ventures in November 2012. It raised another $6 million in series A from GrayMatters Capital in October 2016.

From both the key investors, IFSC has raised a total of $11 million in funds till date.

ISFC is a non-banking finance company that provides loans to schools to improve their educational infrastructure such as construction of additional floors within the existing school premises, setting up of computer labs, science laboratories, adding basic amenities, implementing new teaching methodologies like digital classrooms.

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It focuses on schools serving urban low income segments. It has presence across 9 states and 23 locations in India and since its founding, it has disbursed 1300+ loans to schools and school entrepreneurs. It provides secured loans upto Rs. 100 lakhs and unsecured loans upto Rs. 5 lakhs.

The company is backed by Gray Ghost Ventures and Caspian Advisors. Neeraj Sharma, the CEO & MD of IFSC is an ex-Fullerton, having worked at AIG Home Finance, BILT & ACC as well.

 

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