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HomeInsightFunding Alert Fintech platform Propelld raises $35 mn in Series B led by...

[Funding alert] Fintech platform Propelld raises $35 mn in Series B led by WestBridge Capital, others

Fintech platform Propelld
Fintech platform Propelld

Propelld, an education focused fintech platform, has raised $35 million in Series B funding round led by WestBridge Capital, along with existing investors – Stellaris Venture Partners and India Quotient.

The company said that new funds will be utilised to further strengthen in house tech and collection capabilities, while introducing new financing products and building distribution capabilities across segments.

“We would like to thank all our institute and lending partners who have believed in us. With the latest capital infusion we will strive towards building better financial products for the educational ecosystem which will further benefit our partners.” Bibhu Prasad Das, Co-founder, CEO at Propelld, said.

Founded by IIT Madras alumni Bibhu Prasad Das, Victor Senapaty and Brijesh Samantaray in 2017, Propelld is a series-B funded fintech company that enables flexible financing solutions through fully digital journeys for learners pursuing education programs at vetted partner institutions.

“India spends over $90 billion annually in education, however the financial penetration is still very low. Propelld aims to address this gap and increase education loan accessibility to students through tech based products.” Deepak Ramineedi, Partner, WestBridge Capital, said.

On this journey, Propelld added more than 550 institute partners, with which they are leading in the Ed-tech, Skill-Up, and Job-focused education segment and now expanding in other education segments.

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