Varthana provides loans to Affordable Private Schools (APS) and allied educational institutions. The company began its operations in 2013. It operates in the states of Karnataka, Odisha, Maharashtra, Tamil Nadu, Madhya Pradesh, Rajasthan and Gujarat. India has approximately 425,000 private schools that have significant need for financing but have struggled to raise financing from traditional banking channels. Zephyr Peacock has fully divested its stake in the company.