PE Fund Investments
Education-focused lender Propelld to raise $31-M from WestBridge Capital, Stellaris
Bengaluru-based fintech startup Propelld , an education-focused lending platform, is to raise INR 260 crore (around USD 30.5 million) in its Series D round from existing investors WestBridge Capital (INR 240 crore) and Stellaris Venture Partners (INR 20 crore). The company is to allot 20,732 Series D compulsorily convertible preference shares (CCPS) at INR 1,25,408 each to the investors.Founded in 2019 by Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray, Propelld provides education loan financing through 'Study Now, Pay Later' products and Income Sharing Agreements (ISA) via its NBFC arm. The company also offers collateral-free education financing options.
Between Aug 2018 and Mar 2022, Propelld had raised about USD 37 M from India Quotient, Stellaris Venture Partners, WestBridge and IAN Fund.For FY24, Propelld had reported about INR 78 Cr in Operating Income and about INR 43 Cr in Net loss.
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