Debt financing
Edu-fintech co. Auxilo raises Rs.225-Cr led by Neo Group
Mumbai-based edu-fintech company Auxilo raised INR 225 crore (about USD 25.5 million) in debt from Neo Group, Nuvama Wealth, Dezerv, and The South Indian Bank through the issue of 22,500 non-convertible debentures (NCDs), each with a face value of INR 100,000.Neo Group contributed INR 100 crore, Nuvama Wealth and Dezerv each invested INR 50 crore, and The South Indian Bank provided INR 25 crore. The debentures carry an interest rate of 9.7% per annum for a three-year tenure. The debentures issued to the South Indian Bank have a 10% annual interest rate.Founded in 2016, Auxilo offers education loans to students pursuing higher studies in India and abroad, covering expenses such as classroom fees, pre-visa approvals, and airfare. Additionally, Auxilo provides loans to educational institutions for infrastructure modernisation.
Between Mar-20 and Feb-25, Auxilo had attracted about USD 123.65 M from ICICI Bank, Tata Capital Growth Fund, Trifecta Capital, Xponentia Capital, LeapFrog, and Motilal Oswal Alternates.For FY25, Auxilo had reported about INR 528.10 Cr in Operating Income and about INR 111.94 Cr in PAT.
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