Auxilo Has Secured Around $12 Million in Debt Financing Round Funding
![Auxilo](https://thestartuplab.in/wp-content/uploads/2024/07/startuplab-9.png)
Auxilo, an Education-focused non-banking financial corporation (NBFC), has raised Rs 100 crore in a debt funding round.
According to the report, the board at Auxilo has issued non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 each to raise Rs 100 crore ($12 million).
Dezerv Securities contributed Rs 26.39 crore, while MAS Financial Services and CredAvenue Securities (Yubi) contributed Rs 25 crore each. The investors will soon release the balance amount.
The NCDs issued to MAS Financial and CredAvenue (Yubi) have a 36-month tenure and an interest rate of 9.65%, while the debentures issued to Dezerv have a 29-month tenure and an annual coupon rate of 9.90%.
Since its inception, Auxilo has secured around $145 million in equity and debt, including a $57 million funding round led by Tata Capital Growth in July 2023.
Auxilo | Education-focused non-banking financial corporation (NBFC)
Established in 2017, Auxilo provides student loans for pursuing education within India or abroad. It also extends loans to educational institutions for infrastructure and working capital requirements.
Since its existence, Auxilo claims to have provided education loans to over 12,000 students across more than 1,100 universities and education institutes in over 30 countries. In the next five years, it aims to disburse Rs 25,000 crore worth of loans to more than 150,000 students in India and overseas.
Follow us and connect with us on Instagram, Facebook, Twitter, and LinkedIn.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.