Mubadala invests in India’s Avanse Financial Services

Image: Mubadala

Mubadala Investment Company has announced its strategic investment in Avanse Financial Services (Avanse), a leading Indian non-banking financial company (NBFC) in the education sector.

Mubadala led the funding round through its affiliate Alpha Investment Company, with participation from Avendus PE Investment Advisors’s fund Avendus Future Leaders Fund II.

Avanse, India’s second-largest NBFC in the education finance domain, provides hyper-personalised education financing solutions to students.

Mubadala enters India’s financial services and education sectors

Marking the sovereign investor’s maiden foray into India’s financial services sector, this investment reflects the company’s strategic vision to expand its footprint in Asia, with ambitions to double its exposure to the region by 2030.

With assets under management to the tune Dhs5.5bn as of December 2023, Avanse stands poised to leverage this infusion of funds to further scale its operations and drive innovation within the sector.

Luca Molinari, head of Asia and Financial Services at Mubadala, emphasised the shared commitment towards empowering the aspirations of Indian students.

In recent news, global mobility fintech Moove has announced the successful closure of a $100m Series B funding round. Led by Mubadala alongside new investment from Uber, the funding will see UAE-headquartered Moove accelerate its growth and drive electric vehicle (EV) adoption across diverse markets.

With inputs from WAM.