Education-focused non-banking financial corporation (NBFC) Auxilo has secured Rs 100 crore (approximately $12 million) in debt financing. According to a regulatory filing accessed from the Registrar of Companies (RoC), Auxilo’s board issued non-convertible debentures (NCDs) at Rs 1,00,000 each to raise the funds. Dezerv Securities contributed Rs 26.39 crore, while MAS Financial Services and CredAvenue Securities (Yubi) each invested Rs 25 crore. The remaining funds will be released by the investors soon.
The NCDs issued to MAS Financial and CredAvenue (Yubi) have a 36-month tenure with a 9.65% interest rate, while Dezerv’s debentures have a 29-month tenure with a 9.90% annual coupon rate.
This funding round coincides with Auxilo’s recent $33.6 million equity round led by LeapFrog Investments, which invested $30 million, while Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II contributed the remaining amount. The current debt funding is separate from this equity announcement.
Since its inception, Auxilo has raised around $145 million through equity and debt, including a $57 million round led by Tata Capital Growth in July last year.
Established in 2017, Auxilo provides student loans for education in India and abroad, and loans to educational institutions for infrastructure and working capital needs. The New Delhi-based company claims to have funded over 12,000 students across more than 1,100 universities in over 30 countries. In the next five years, it aims to disburse Rs 25,000 crore in loans to over 150,000 students.
