Education-focused non-banking financial company Auxilo has secured nearly $25.5 million (Rs 225 crore) in debt funding. Separately, proptech firm Square Yards has raised $35 million in a new equity round led by South Korea-based Smile Gate Group.
Auxilo raises $25.5m led by Neo Group, Nuvama, others
Education-focused non-banking financial company (NBFC) Auxilo has secured nearly $25.5 million (Rs 225 crore) in debt funding from Neo Group, Nuvama Wealth, Dezerv and The South Indian Bank.
The Auxilo’s board has issued 22,500 non-convertible debentures (NCDs) at a face value of Rs 1,00,000 each to raise the above-mentioned amount, Entrackr reported, citing the company’s latest filing with the Registrar of Companies (RoC).
Earlier this year, in February, Auxilo had secured Rs 50 crore from Motilal Oswal. Last year, Auxilo had raised nearly $12 million in a debt funding round from investors including Dezerv Securities, MAS Financial Services, and CredAvenue Securities (Yubi).
Founded in 2017, Auxilo Finserve provides loans to students for pursuing education in India or overseas and loans to educational institutions for their infrastructure and working capital needs.
Smile Gate leads $35m funding in Square Yards
Proptech firm Square Yards has raised $35 million in a new equity round led by South Korea-based Smile Gate Group, with participation from its existing investors, per media reports.
According to a report in INC42, Square Yards is also in advanced talks with several investors to raise an additional $100 million through a mix of equity and debt.
Meanwhile, Square Yards is preparing for an Rs 2,000 crore IPO next year.
Founded in 2014 by husband-wife duo Tanuj Shori and Kanika Gupta Shori, Square Yards offers end-to-end real estate solutions, including property search, financing, home interiors and property management. Over the last 12 months, Square Yards claims to have facilitated Rs 12,000 crore in property transactions and Rs 66,000 crore in loans.
