Auxilo Finserve Launches ‘IndiaEd'
Auxilo Finserve, India's education focussed NBFC, has announced the launch of 'IndiaEd', an interest-free school and tuition fee financing solution. Designed to reshape how education is funded in India, IndiaEd addresses the growing financial challenges faced by students and educational institutions alike.
'Starting with institutional partnerships, we are collaborating directly with schools, colleges, coaching centres, and edtech providers with tailored financing solutions that benefit both learners and administrators' informed Anand Subramaniam, Chief Business Officer – Domestic Loans, Auxilo Finserve.
India's private education market, estimated at $52 billion, continues to grow at a 12% CAGR, with increasing digitization and personalized learning formats. Auxilo's IndiaEd is poised to serve this growing need with flexibility and speed, backed by the company's robust digital infrastructure and recent capital infusion.
Key Features of IndiaEd – Institutional Partner Model:
· Covers full spectrum of educational expenses: School tuition, undergraduate/postgraduate fees, competitive exam preparation, upskilling, and vocational training
· Flexible loan amounts: Fees ranging from ₹20,000 to ₹10,00,000
· Repayment tenures: Customizable repayment terms starting from 3 months to 72 months (6 years)
· Online processing: Completely digital and paperless loan processing
· Zero waiting period: Instant disbursals to partnered institutions, ensuring real-time financial support
Once processed and approved, Auxilo will disburse the funds within 24 hours directly to partnered institutions.
'India's education ecosystem is undergoing a significant transformation. With rising tuition costs and expanding needs like online learning, coaching, and extracurriculars, families are seeking smarter financing options' added Anand Subramaniam 'IndiaEd will offer a frictionless, interest-free financing option at the point of need, benefitting both learners and learning providers'.
Auxilo will soon announce the second phase of this service, wherein, students or individual borrowers can directly apply for loans for school education, career upskilling, and vocational training.
In March 2024, Auxilo raised $33.4 million in equity from LeapFrog Investments, with participation from existing investors such as Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II. This capital is fuelling innovations like IndiaEd to serve India's next generation of learners.
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