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India’s Auxilo Finserve raises $33m to further support student community

Summary of Auxilo Finserve’s $33 Million Funding Round

  • Funding Details:
    • Total Raised: $33 million.
    • Major Contributor: LeapFrog Investments provided $30 million in guaranteed capital.
    • Other Backers: Existing investors Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II.
  • Company Background:
    • Founded: 2017.
    • Location: Mumbai, India.
    • Focus: Provides loans and advances to Indian students for domestic and international education.
  • Use of Funds:
    • Institutional Lending: Bolster this segment.
    • Student Funding: Improve funding options for students.
    • Customer Outreach: Extend reach to more customers.
    • Technological Integration: Enhance technological infrastructure across operations.
  • Unique Selling Point:
    • Innovative Underwriting Model: Uses factors like country of study, degree choice, and test scores to predict future employability and offer merit-based finance.
  • Growth Metrics:
    • CAGR: Loans and advances have grown at a 75% Compound Annual Growth Rate from FY21 to FY24.
  • Investor Commentary:
    • LeapFrog Investments: Stewart Langdon highlighted the firm’s dedication to supporting prosperity across various sectors in India, including finance, insurance, healthcare, and clean technologies.

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