Sundaram Finance Group has made an investment in a Delhi-based start-up GyanDhan. The company said it is part of group's effort to start engaging with start-ups in the areas of financial services and fin-tech. The company did not disclose the amount invested.
GyanDhan is an online marketplace for education loans for students aspiring to pursue studies abroad. Founded by two IIT alumni, GyanDhan helped over 250 students get education loans of around Rs 60 crore.
T T Srinivasaraghavan, managing director, Sundaram Finance said that the Group is looking to make investments as opportunities arise. The aim is to associate with firms where there is synergy with group strategy.
The investments will be minority stakes in early stage ventures with ticket sizes of $1 million or less, through larger investments will be made where warranted.
Harsha Viji, deputy managing director, Sundaram Finance added the company is already engaging with multiple start-ups with various types of engagement models including operational, financing and also equity investments where it make sense.
The Group is also looking to co-invest with like-mided venture capitalists and angel investors in this space, added Viji.