Fintech firm Eduvanz has partnered with Flipkart to offer easy financing solutions on the purchase of electronic learning devices to students across the country. This is part of Flipkart's Back to College program which aims to fulfil the educational needs of millions of students as they begin their classes virtually this year.
Under this partnership, Eduvanz will provide easy EMI loans for the purchase of e-learning tools such as laptops, tablets and smartphones to students while building their credit history. Since the onset of the pandemic, learning has moved online and this online model has compelled millions of learners and students across the country to adapt to the new phygital model. This delivery mode has given a new dimension to the utility of gadgets such as laptops, tablets and smartphones and they have evolved into a classroom from being a source of entertainment in the past year.
For Flipkart, nearly 40-45 percent of the demand for electronic essentials come from the student cohort.
Varun Chopra, CEO, Eduvanz, said, “Through our partnership with Flipkart, we aim to cater to the digital learning needs of Indians across all categories.”
With the Indian online education sector poised to grow to $ 8.6 billion by 2026, the need for e-learning tools and gadgets is bound to increase exponentially as Indian learners will embrace the new mode of education.
Rakesh Krishnan, Senior Director, Electronics at Flipkart said, “As the learning scenario in the country undergoes an overhaul, we are working with our partners to bring a variety of solutions for the students to enhance their learning potential in an affordable manner”.
As per the NSO report, only one in ten households in India have a computer---be it a desktop, laptop or tablet. However, almost a quarter of houses have internet facilities accessed via a fixed or mobile network using any device, including smart phones. Lack of affordable financing options is further widening this gap leading to the digital divide. At the same time, online education offerings for classes 1 to 12 are projected to increase 6.3X by 2022 from the base of 2019," according to an industry report.