ISFC aims to disburse more than Rs 300 crores during FY2021-22, and also intends to double its partner network over the next few years while launching several new offerings such as student financing for K-12, coaching, and skill development through its focused digital transformation.
Indian School Finance Company (ISFC) appointed IT veteran Hari Padmanabhan as its independent director, according to an official statement issued on February 4, 2021. It is expected that with his proficiency in building and mentoring tech-driven ventures, Padmanabhan will add thrust to ISFC’s ongoing digital transformation efforts. By founding INSYST in 1986, Padmanabhan, an alumnus of IIT Kanpur and IIM Kolkata, pioneered software product development. In 2003, he also became the founder of TiE (The Indus Entrepreneurs) Dubai in 2003. At present, Padmanabhan is the executive chairman of Encore, an early-stage investor in enterprise application software and the chairman and mentor of OS Labs, the developer of INDUS OS – which pioneered the Indian languages mobile experience and now runs India’s very own INDUS AppBazaar.
Education sector lender, ISFC caters to K-12 schools, coaching institutes, vocational training centres and teachers (via personal loans), alongside others. According to the reports, the company aims to disburse more than Rs 300 crores during FY2021-22, and also intends to double its partner network over the next few years while launching several new offerings such as student financing for K-12, coaching, and skill development through its focused digital transformation.
Talking about the appointment of Hari Padmanabhan, Sandeep Wirkhare, MD and CEO, ISFC, said, “Mr. Padmanabhan is a known industry name who has been a growth hacker for several global corporations. Today, the lines between finance and technology continue to fade faster than we can think. At ISFC, we are glad to have a thought leader like him on board and are confident that his valuable inputs will add to the quality of our technological interventions in finance.”
While sharing his views on being appointed as an independent director of ISFC, Padmanabhan said, “ISFC has come a long way in its market journey, and has extended economic support to educational institutions in India despite strong economic headwinds. The interactions that I’ve had so far with all of the ISFC stakeholders have been very conducive and I look forward to creating the desired synergies together.”
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