Propelld's Journey in Revolutionizing Education Financing
Founding and Mission
Founding and Mission
Propelld, an education-focused fintech, was founded in 2017 by Victor, Bibhu, and Brijesh to revolutionize education financing, inspired by Milton Friedman's works.
Early Challenges and Growth
Early Challenges and Growth
Despite early challenges in finding lending partners and navigating regulations, Propelld secured backing from investors like Indian Angel Network, India Quotient, Stellaris Venture Partners, and WestBridge Capital.
Securing $25 Million in Debt Funding
Securing $25 Million in Debt Funding
Propelld raised $25 million in debt for its non-banking financial company, Edgro Finance, from nine lenders, including Credit Saison India and AU Small Finance Bank, to offer flexible student loans.
Previous Funding Success
Previous Funding Success
In February 2022, Propelld raised $35 million in Series B funding led by WestBridge Capital, with Stellaris Venture Partners and India Quotient also participating.
Innovative Education Financing Solutions
Innovative Education Financing Solutions
Propelld, established by IIT Madras graduates, offers "Study Now, Pay Later" and Income Sharing Agreements (ISA) through Edgro, providing collateral-free education financing to over 2,000 institutions.
Financial Prudence and Growth
Financial Prudence and Growth
Propelld boasts an annual disbursal run rate of Rs 1,200 crore and NPAs below 1%, showcasing its commitment to financial prudence and student support.
Addressing Financing Gaps in Tier 2 and 3 Cities
Addressing Financing Gaps in Tier 2 and 3 Cities
Propelld focuses on tier 2 and 3 cities where students struggle to get financial assistance from established lenders, offering innovative financial solutions to bridge this gap.
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