Education-focused non-banking financial corporation (NBFC) Auxilo has raised nearly $12 million in a debt funding round from investors including Dezerv Securities, MAS Financial Services, and CredAvenue Securities (Yubi).
According to a report in Entrackr, the board at Auxilo has issued non-convertible debentures (NCDs) for Rs 1,00,000 each to raise the aforementioned amount. Citing the company’s latest filings with the Registrar of Companies (RoC), the report said Dezerv Securities pumped in Rs 26.39 crore while MAS Financial Services and CredAvenue Securities (Yubi) participated with Rs 25 crore each.
Auxilo is also in the process of raising $33.4 million in separate financing from LeapFrog Investments, through its Jade Inclusion investment vehicle, Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II, per previous reports.
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. The company claims to have funded 12,000 students across more than 1,100 universities in over 30 countries. It has also provided finance to over 170 educational institutes for their infrastructure expansion and working capital requirements.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from July 19-23, 2024.
