| Log in

Vocational education loans-focused NBFC Kashmir Finance raises money from HNIs

10 March, 2015

Kashmir Finance Private Limited, a specialised NBFC which lends to students for vocational courses, has raised a small undisclosed amount of funding from group of high net-worth investors, according to a press release.

Started in 2012, Kashmir Finance operates under the brand name of ‘KSFi’- Knowledge and Skill Financing solution. KSFi provides average loan of Rs 80,000 for a period of 24-36 months.

“There is a dearth of skilled labour in India. As per various studies, we require skilled labour force of more than 12 million people every year and the expected skill financing market is of $2 billion per annum. Hence it’s important to tap this huge opportunity,” Sharat Kurup, founder and principal of KSFi, said.

At present, it has operations in seven key locations namely Mumbai, Hyderabad, Bangalore, Ludhiana, Raipur, Pune and Jammu.

An email sent seeking further details on the transaction did not elicit any response by the time of filing this article.

DCB Bank Limited (Formerly Development Credit Bank Ltd.) advised Kashmir Finance for the fundraising.

“The best part about KSFi is that it follows a light asset business model and avoid brick and mortar structure,” Atal Agarwal, 

head – corporate &investment banking of DCB Bank, said in the statement.

He added that DCB is also planning to help KSFi raise another round of funding.

(Edited by Joby Puthuparampil Johnson)


Leave Your Comment
Vocational training provider SkillSonics secures $3.8M from National Skill Development Corp

Vocational training provider SkillSonics secures $3.8M from National Skill Development Corp

Bhawna Gupta 4 years ago
Bangalore-based SkillSonics India Pvt Ltd, which offers vocational courses in...
RBI raises loan-to-value ratio for gold loan firms to 75%

RBI raises loan-to-value ratio for gold loan firms to 75%

Anuradha Verma 4 years ago
The Reserve Bank of India (RBI) has raised the loan-to-value (LTV) ratio for the...
RBI tightens NBFC norms

RBI tightens NBFC norms

Anuradha Verma 3 years ago
The Reserve Bank of India has revised the framework for non-banking finance...
No Comments

Vocational education loans-focused NBFC Kashmir Finance raises money from HNIs

Powered by WordPress.com VIP