Hyderabad-based private educational lender Indian School Finance Company (ISFC), has raised $6 million of Series-A funds from US-based social venture capital firm Gray Matters Capital. ISFC will be using the funds to increase its loan ticket size and build more clients, the company said.
Founded in 2008, ISFC is a non-banking finance company (NBFC) which provides loans to educational institutions and entrepreneurs managing such institutions. The company has so far distributed over 3,000 loans across 13 states and plans to expand to two more by end of 2016. IFSC earlier raised money from Gray Ghost Ventures and Caspian Advisors.