[Funding News] Auxilo Raises $12 Mn Debt Funding Round

In a debt funding round, Education-focused non-banking financial company (NBFC) Auxilo has attracted Rs 100 crore (about $12 million).

Auxilo's board has issued non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 each in order to raise Rs 100 crore ($12 million).

Auxilo has accumulated around $145 million through a combination of equity and debt since its establishment, which includes a funding round of $57 million led by Tata Capital Growth in July of the previous year.

Auxilo provides financial assistance in the form of student loans for individuals seeking to pursue education either in India or elsewhere. Additionally, it provides loans to educational institutions for their infrastructural and working capital needs.

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Auxilo asserts that it has granted educational loans to a total of 12,000 students, spanning more than 1,100 universities and educational institutions in over 30 countries. Over the following five years, the goal is to distribute loans of Rs 25,000 crore to more than 150,000 students in India and abroad.

About Auxilo

Founded in 2017 by Neeraj Saxena, Auxilo believes that it’s the right of every student to avail quality education. We are taking steps towards ensuring that students acquire the knowledge, skills, and dispositions that they need to achieve their individual goals and to maximize their contribution to society and the country as a whole.

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