Debt financing
Education finance firm Auxilo raises $12-M
Mumbai-based, education-focused non-banking financial company (NBFC) Auxilo Finserve has raised INR 100 crore (about USD 12 million) in a debt financing round from Dezerv Securities (which invested INR 26.39 crore), MAS Financial Services and Yubi (which invested INR 25 crore each).The NCDs issued to MAS Financial and CredAvenue (Yubi) have a tenure of 36 months with an interest rate of 9.65%, while the debentures issued to Dezerv have a tenure of 29 months with an annual coupon rate of 9.90%.Founded in 2017, Auxilo claims to have funded 7,500+ students across more than 900 universities in over 25 countries. It has also provided finance to 150+ educational institutes for their infrastructure expansion and working capital requirements.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
