EdtechReview.in recently reported on the news of Auxilo Finserve, India’s leading non-banking finance company that focuses on providing education finance, raising $57.4 million (INR 470 crore) in its investment round. Led by Tata Capital Growth Fund II, Trifecta Leaders Fund – I and Xponentia Opportunities Fund – II, the funding saw Xponentia committing Rs 110 crore. Existing investor ICICI Bank Limited also participated in the round.
Founded in 2017, Auxilo Finserve seeks to provide financial access to students across India. They provide loans to those pursuing higher education, international education, and skills development, believing that it is the right of every student to gain the knowledge and skills needed to maximize their contribution to society.
Managing Director & CEO of Auxilo Finserve, Neeraj Saxena, commented on the fundraising, saying:
“The investors’ keen interest in the education finance market, a highly specialized and niche segment, reaffirms its attractiveness and the market’s confidence in its potential, business model and growth trajectory.”
Auxilo plans to use the capital to expand its loan base, broaden its product offerings, and provide innovative financial solutions to its students. They have already funded 7,500-plus students across more than 900 universities in over 25 countries, and have financed 150-plus educational institutions for infrastructure expansion and working capital requirements.
Sandeep Bapat, Partner, Trifecta Growth Equity, added:
“The company’s strong management team, extensive use of technology in underwriting and collections, and infusion of significant equity financing will provide a solid foundation for Auxilo’s continued growth in the large and growing Education Loan market.”
The funding will allow Auxilo to broaden its product offerings and enhance its technological capabilities. Since its inception, the startup has raised over $100 million across equity and debt.
At EdtechReview.in, we believe that education should be accessible to everyone, and we are excited to see Auxilo Finserve taking the initiative to ensure that students of all backgrounds are able to pursue their educational goals. We look forward to seeing how the company continues to expand and innovate in the coming years.
