Rang De partners with Physics Wallah (PW) to Pioneer First-of-a-Kind Education Financing and offer affordable student loans
Rang De, India’s first peer-to-peer social investing platform, has partnered with unicorn ed-tech startup Physics Wallah to launch its first education-focused fund called the Physics Wallah Fund. The partnership was formed with the purpose of addressing the need for accessible and affordable student loans to receive top-quality, industry-relevant education.
Under this partnership, students from economically disadvantaged backgrounds will have the opportunity to access affordable, collateral-free education loans specifically designed for Physics Wallah’s Institute of Innovation (PW IOI), a prestigious 4-year residential program in Computer Science and AI. This collaboration serves as a crucial step in breaking down financial barriers that have traditionally hindered these students’ access to quality education.
Through this partnership, both Rang De & Physics Wallah will be able to expand education opportunities and act as a catalyst for fostering educational equality. The joint commitment aims to create a lasting impact by transforming the landscape of education accessibility.
Since its inception, Rang De has been working towards connecting socially conscious citizens as lenders to underserved borrowers. Since 2019, the platform has disbursed over INR 60 crores in loans and fulfilled more than 18k loans to rural entrepreneurs and students with the support of 8500+ social investors (ordinary citizens who lend via Rang De’s platform). This partnership between Rang De and PW Institute of Innovation aims to provide access to quality education, industry-ready skills training, and job opportunities that will benefit students.
Commenting on the announcement, Smita Ram, CEO of Rang De, said, “We at Rang De believe that quality education is a fundamental right for every individual, regardless of their financial situation. Since its inception, we have been unwaveringly committed to democratising access to credit and empowering people to improve their lives. This partnership stands as a testament to that commitment. Aligned with the core values of our platform, we firmly believe that this partnership can usher in significant transformation within the realm of education.”
At the core of this partnership is Rang De’s proficiency in facilitating credit access for underserved individuals through social investing and peer-to-peer lending, combined with Physics Wallah’s commitment to providing affordable, high-quality education to a broader audience irrespective of their socio-economic condition. The collaboration will enable each student to access an average of 3-4 lakhs worth of collateral-free loans through funds invested by social investors (lenders on Rang De’s platform), which can be repaid upon the completion of the course.
Speaking on the association, Prateek Maheshwari, Co-Founder of Physics Wallah, said, “This partnership is a pivotal step towards realising our mission of democratising education at scale in India. Our aim has always been to ensure that every child, regardless of their background, can access quality education affordably. This collaboration with Rang De perfectly aligns with our vision, as it not only offers affordable financing for education but also offers students from all backgrounds a unique opportunity for a successful career through PW IOI’s industry-focused curriculum. With PW Skills’ over 500 hiring partners and a track record of placing students with impressive salaries, this collaboration aims to transform lives and bridge the gap in future job opportunities. We believe it will be a game changer in reshaping the landscape of education accessibility in India.”
PW IOI is designed to make students future-ready by equipping them with industry-relevant skills and bridging the demand and supply gap of professionals, along with the employability gap. With experienced faculty and industry leaders from top companies as mentors, an industry-oriented curriculum, and real-world projects, students are equipped for success in their professional journey. Personalised guidance, four comprehensive internships, networking opportunities, global exposure, and a state-of-the-art campus further enhance the program’s effectiveness.