The firm has also raised USD 500,000 investment led by Blinc Advisors.
Eduvanz said it will utilise the funds for strengthening it artificial intelligence-based lending technology for loan appraisal and expand its operations-pan India.
"With the NBFC status approval from the Reserve Bank of India, Eduvanz is bringing much-needed financial support in the skill development ecosystem using analytical tools and advanced risk management capabilities to extend loans without any paperwork in a matter of minutes," the company said in a statement.
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