PhysicsWallah to exit student financing biz, ties up with NBFCs instead
NEW DELHI: Edtech firm PhysicsWallah on Thursday said it plans to exit from the business of direct financing for students and instead partner with NBFCs for education loans.
The move comes after a recent announcement wherein the company said it will invest Rs 120 crore through an equity-infusion in its fully-owned subsidiary FinZ Finance Private Limited.
“Physicswallah Limited wishes to inform the exchanges that it is restructuring its lending strategy and has tied up with multiple leading regulated third-party NBFCs to enable student lending needs. This decision reverses the company’s earlier approach and is intended to materially reduce balance sheet and credit related risks for the company,” the company said.
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