Auxilo Finserve Raises Rs 279 cr for Student Lending
Jul 16, 2024 12:16
Auxilo Finserve, an education-focused NBFC, secures Rs 279 crore funding from LeapFrog Investments and others to expand its student loan portfolio.
New Delhi, Jul 16 (PTI) Auxilo Finserve, the education-focused NBFC, on Tuesday said it is raising Rs 279 crore from a clutch of investors, including LeapFrog Investments, in a fresh round of equity funding to expand its student lending portfolio.
Private equity firm LeapFrog Investments is investing USD 30 million in the current round through its investment vehicle Jade Inclusion Ltd, Auxilo Finserve said in a statement.
This round will also see participation from existing investors Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II, it said.
"LeapFrog's commitment to social impact aligns perfectly with our vision of empowering individuals through education. This investment, along with continued support from our existing investors, will enhance our ability to support students in achieving their academic dreams," Auxilo MD & CEO Neeraj Saxena said.
The new round of capital infusion will be utilised to expand customer reach, enhance student funding, incorporate technological infrastructure across business processes, and boost the company's Institutional lending segment, it said.
Auxilo has entered into definitive agreements with the investors and the closing of the transaction will happen in the near future, it added.
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