Indian School Finance Company (ISFC) the first sector specific NBFC in India catering to K12 school and skill segment wins “Prestigious Brands of Asia 2021-22” and it’s MD & CEO Mr. Sandeep Wirkhare was honoured with “Marketing Meister Award”, presented by Herald Global & BARC Asia, in an event organized in Goa.
ISFC focuses on providing finance to the budget private schools for their infrastructural development, working capital, digital upgradation & cost-free student fee financing. The company has expanded in 13 states of India with 22 branches & caters to schools in 150+ locations.
The company is incubated and supported by internationally acclaimed impact investors to create an impact in quality of learning. Having helped underserved schools in farther geographies the company has enhanced a quality of education amongst the bottom of pyramid children.
ISFC used pandemic as an opportunity to transform itself into a new age scalable business model in its version 2 where it has launched multiple digital products and is transforming itself towards fintech model while retaining its strength over the school infra financing. One of the most affected NBFC due to prolonged school closures, more than any other country, the company faced survival and continuity challenges. Through innovative customer engagements, shareholders & lenders support, the team ensured the company was quick to turn around back into profitability by Q3 of financial year 2021-22.
“We utilized the pandemic period to transform into a scalable relationship-based business model & launching innovative products through digitization. Collaborating with top Edtech players to increase the available universe for funding exponentially. One of the quickest turn-around into profitability despite prolonged closure of schools. This was made possible with the support of our customers, employees and the stakeholders, who believed in us at every stage” said Mr. Sandeep Wirkhare, MD & CEO, ISFC.
ISFC not only give loans to educational institutes, it ensures that the support continues for holistic development of such Schools & Colleges. The company engages with schools to help them in quality enhancement as well. ISFC aims to boost learning in schools by aiding digital and physical infrastructure with customized fee financing, special benefits to existing customers, and additional facilities like providing school ERP solutions and integration with content delivery companies to help schools start their operations.
The company has adapted to the change through digitization and process automation for the whole loan life cycle for all its products. The underwriting under its digital product is done through a unique cutting edge underwriting algorithm that is capable of assessing vegetable vendors to a high tax paying individual in salaried or self-employed segments equally effectively.
ISFC assists budget private schools and other educational institutions in capacity building through infrastructure development, thereby enabling students to access quality education. The company has created a very strong presence and is widely known amongst the schools in tier 2, 3 & 4 towns in India as a lender to this credit underserved segment where mainstream lenders could not focus due to product complexities. It has helped more than 5,000 schools to create better infrastructure mostly in semi-urban and rural geographies thereby impacting the quality of education for about 7 million students.