Education-targeted non-banking finance company Auxilo Finserve has raised around $57.4 million as a primary equity capital in its recent funding round led by Tata Capital Growth Fund II, Trifecta Leaders Fund - I and Xponentia Opportunities Fund - II.
Founded in 2017, Auxilo Finserve provides loans to higher and international education students, as well as learners pursuing skills development. The company also provides financing to educational institutions to help them improve their infrastructure and meet working capital needs.
The company claims that it has provided loans to more than 7500 students across more than 900 universities in over 25 countries, and has provided finance to over 150 educational institutions.
“Auxilo plans to use the capital to fuel its growth aspirations by expanding its loan base, broadening its product offerings, and providing innovative financial solutions to its customers,” said Neeraj Saxena, managing director and CEO of Auxilo Finserve.