India’s Auxilo Finserve raises $33m to further support student community
Auxilo Finserve, an Indian education-focused Non-Banking Financial Company (NBFC), has secured $33 million in a new funding round, with LeapFrog Investments, a “profit with a purpose” investment firm headquartered in Ebene, Mauritius, providing $30 million in guaranteed capital.
Auxilo lands $33 million fundraise
The fresh round was also backed by existing Auxilo investors Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II.
The Mumbai-based NBFC has earmarked its latest financing to bolster its institutional lending segment, improve student funding, extend customer outreach, and integrate technological infrastructure throughout its business operations.
Founded in 2017, Auxilo aims to serve Indian students with loans and advances both domestically and abroad in select countries.
The lender claims to possess an “innovative model of underwriting”, which utilises the student’s country of study, degree choice and test scores to “predict future employability”, which it says enables the firm to offer “merit-based finance to an increasingly broad range of students”.
Auxilo boasts that its loans and advances have experienced a 75% CAGR (Compound Annual Growth Rate) from FY21 to FY24.
Speaking on the firm’s investment in Auxilo, Stewart Langdon, partner and head of digital at LeapFrog Investments, says the company is “dedicated to supporting springboards into prosperity across a range of sectors in India,” noting that sectors of interest range from “finance and insurance, to healthcare and clean technologies”.
