Credenk, an educational lending platform for higher education, has announced the acquisition of ObserveNow, a new age digital content platform.
Through the agreement, Credenk will further strengthen Observeno’s extensive media network, bringing together brand partners and marketing experts to strengthen the company’s relationship across all verticals, a press release said. The affiliation with ObserveNow will help reach out to colleges and students across India and create new business avenues for Credenc, the education loan firm said in a statement.
The agreement is also a step towards achieving Credenk’s goal of creating a Rs 3,000 crore debt book by 2025 and enabling more education loans.
While ObserveNow will continue to serve as a separate digital content arm in the Credenc group, this agreement marks the entry into Credenc’s new vertical.
Founded in 2019, Observo has created enormous value in a variety of areas in India and Southeast Asia, including human resources, education, healthcare, startups and technology. In such a short span of time, the company has built a network of over 85 clients, 800+ articles and over 500 live stories, virtual summits, video interview series, leadership discussions, celebrity digital campaigns and more than 75,000. + Corporate leaders in this vertical sector.
Commenting on the acquisition, Mayank Batheja, co-founder of CredenkSaid
“Today is an important moment for Credenc as we welcome ObserveNow on board. Observe has done commendable work in the field of education and human resources over the past two years. “
Founded in 2017 by Avinash Kumar and Mayank Batheja, Credenc serves as the digital finance desk of 1000+ colleges in 17 cities across India. The startup is hampering the domestic higher education finance market with its future income forecast model which ensures that the best students in the country will not starve for funding for their higher education. It currently offers K-12 school fees, online upskilling courses, higher education as well as overseas courses tuition loans at the click of a button. Credenk had previously said that it is developing a whole student education ecosystem to help students and parents with credit, accommodation, employability, savings, foreign exchange and investment on the mobile app.
In July this year, Credenk raised 25 25 million in mixed equity and debt from finance company Capital India to create a Rs 3,000 crore debt book by 2025 and enable more educational loans. Earlier, the Delhi-based fintech startup had raised 2.5 2.5 million in a seed funding round in October 2019 under the leadership of investment firm Omidyar Network India, which included EMV Capital, Better Capital and Indian Institute of Management-Kozhikode (IIMK) alumni funds.
Like what do we do?
Latest Adtech news in your inbox