Avanse Financial Services, an India-based education-focused financial company, has raised about $15m from World Business Capital, a US-based financial institution, according to news provider DealStreetAsia.

The financing is backed by a guarantee from US International Development Finance Corporation (US DFC) under a social impact funding for female empowerment, 2X Women’s Initiative.

In July, private equity firm Warburg Pincus led Avanse’s prior round.

James Mawson

James Mawson is founder and chief executive of Global Venturing.