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Bottomline: Leapfrog-backed Auxilo Finserve maintains growth momentum
VCCircle
·
3m ago
Medial
Auxilo Finserve Pvt Ltd, an education finance company backed by Leapfrog, continues its strong growth trajectory. Four private equity-style investors support the firm, which has seen significant growth in its assets under management and profits due to increasing demand for student loans. During the financial year ending this month, the non-banking financial company maintained its momentum, highlighting the robust market for education financing and its strategic positioning within this sector.
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Bottomline: Auxilo's profit, AUM on high growth path; asset quality improves
VCCircle
·
1y ago
Medial
Auxilo Finserve, a non-banking financial institution, is experiencing significant growth with its profit expected to double this fiscal year. The company, which focuses on education loans, has received a substantial investment from Tata Capital, Trifecta, and Xponentia Capital. Despite this growth, Auxilo is maintaining strict measures to ensure asset quality. Neeraj Saxena, the Managing Director and CEO of Auxilo, is optimistic about the company's future prospects.
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LeapFrog exceeds initial target for fourth fund, mops up $1.15 bn
VCCircle
·
7m ago
Medial
Temasek-backed private equity firm, LeapFrog Investments, has closed its fourth fund, surpassing its initial target of $1 billion. The fund, which focuses on healthcare, financial services, and climate solutions, raised over $1.15 billion. The fundraising cycle attracted commitments from existing investors such as Temasek, AIA, and Prudential Financial, as well as new investors from Asia and other countries. LeapFrog has already invested in Indian startups Healthify, Auxilo Finserve, and Redcliffe Labs through its latest fund. The firm aims to support healthcare and financial services companies in global markets with the funds raised.
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LeapFrog leads ₹279-crore funding round in education finance firm Auxilo
Livemint
·
1y ago
Medial
Private equity firm LeapFrog Investments has led a ₹279-crore funding round in Mumbai-based education lender, Auxilo Finserve. The investment aims to support Auxilo's expansion of its student loan portfolio. LeapFrog made the investment from its fund focusing on financial inclusion and healthcare opportunities in India. This marks LeapFrog's first investment in India's education finance sector. Auxilo has provided education loans to over 12,000 students since its inception in 2018 and aims to disburse ₹25,000 crore to more than 150,000 students for higher education in the next 5 years.
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Decoding Auxilo’s latest funding round, captable and valuation
Entrackr
·
11m ago
Medial
Education-focused non banking financial corporation (NBFC) Auxilo recently announced its Rs 279 crore or $33.6 million equity funding in LeapFrog through its investment vehicle Jade Inclusion Ltd. Apart from the names of the investors, the company did not disclose any details. Entrackr has gone through its regulatory filings to decode details such as round break up, shareholding, and current valuation. The board at Auxilo has passed a special resolution to allot 4,80,78,529 compulsory convertible preference shares (CCPs) at an issue price of Rs 58.04 each to raise Rs 279 crore or $33.6 million, its regulatory filing sourced from the Registrar of Companies shows. LeapFrog led the round with Rs 250 crore while Trifecta and Xponentia Opportunities Fund II pumped in Rs 14.25 crore and Rs 14.79 crore. respectively. According to the filings, the company will use the proceeds to meet its future capital requirements arising out of the growth of business and assets. As per TheKredible estimates, the company has been valued at around Rs 3124 crore or $376 million post-allotment. Following the proceeds, Balrampur Chini Mills (owned by Vivek Saraogi) and Elme Advisors will be the largest external stakeholders with 30.7% each followed by Tata Capital and ICICI Bank which hold 09.61% and 8.49% respectively. Check TheKredible for the complete shareholding. Auxilo has raised around $145 million across equity and debt since its inception including its $57 million funding round led by Tata Capital Growth in July last year. Soon after the equity funding, the company also raised $12 million debt led by Dezerv Securities early this week. Entrackr exclusively reported the development. Established in 2017, Auxilo offers student loans for pursuing education within India or abroad. It also extends loans to educational institutions for infrastructure and working capital requirements. The New Delhi-based company demonstrated strong financial performance, achieving over 2X year-on-year growth to reach Rs 174 crore in FY23. Moreover, its profits doubled to Rs 26 crore in FY23. The company is yet to file its annual results for FY24. LeapFrog mainly focuses on financial, health, and climate tech startups. Apart from Auxilo, the fund led Battery Smart’s $65 million Series B round and $48 million round of Electronica Finance.
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Exclusive: Motilal Oswal invests in edtech-focused NBFC Auxilo
Entrackr
·
5m ago
Medial
Education-focused non-banking financial corporation (NBFC) Auxilo has raised Rs 50 crore in debt from Motilal Oswal. Auxilo allotted 5,000 Non-Convertible Debentures (NCDs) to Motilal Oswal Finvest Limited at a face value of Rs 1,00,000 each, aggregating to Rs 50 crore in Series I and Series II of 2,500 NCDs each. The Series I debentures have a tenure of 2 years with a rate of interest of 9.7% per annum while the Series II debentures carry 9.8% annual interest with a tenure of 3 years, according to the filing. Education-dedicated NBFC Auxilo Finserve provides education loans to students for higher studies in India and abroad and to educational institutes for infrastructure modernization. Its educational loans include all the expenses related to the course including classroom expenditures, pre-visa approvals, air-fares, et al. Auxilo has raised over $100 million across equity and debt since its inception and it competes with well-funded firms such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Eduvanz. Auxilo recorded a 100% year-on-year growth in its revenue to Rs 356 crore in FY24 from Rs 178 crore in FY23. On the back of strong growth, its bottom line jumped 2.68X to Rs 69.2 crore in the previous fiscal (FY24). This is the fourth recent investment by the Motilal Oswal Group in Indian startups.
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Exclusive: Education finance firm Auxilo raises $12 Mn more in debt
Entrackr
·
11m ago
Medial
Education-focused non-banking financial corporation (NBFC) Auxilo has secured Rs 100 crore (approximately $12 million) in a debt financing round. The board at Auxilo has issued non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 each to raise Rs 100 crore ($12 million), its regulatory filing accessed from the Registrar of Companies (RoC) shows. Dezerv Securities pumped in Rs 26.39 crore while MAS Financial Services and CredAvenue Securities (Yubi) participated with Rs 25 crore each. The balance amount will be released by the investors soon. 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%. The development coincides with Auxilo’s $33.6 million round led by private equity firm LeapFrog Investments. As per Auxilo, LeapFrog invested $30 million while Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II pumped in the remaining capital. The current debt funding appears to be separate from the recent announcement. Auxilo has raised around $145 million across equity and debt since its inception including a $57 million funding round led by Tata Capital Growth in July last year. Established in 2017, Auxilo offers student loans for pursuing education within India or abroad. It also extends loans to educational institutions for infrastructure and working capital requirements. Since its inception, Auxilo claims to have provided education loans to over 12,000 students, across more than 1,100 universities and education institutes in over 30 countries. In the next 5 years, it aims to disburse Rs 25,000 crore worth loan to more than 150,000 students in India and overseas. The New Delhi-based company demonstrated strong financial performance, achieving over 2X year-on-year growth to reach Rs 174 crore in FY23. Moreover, its profits doubled to Rs 26 crore in FY23. The company is yet to file its annual results for FY24.
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ETtech deals digest: Startups raise $718.3 million in July 2024, marking a 4% on-year drop
Economic Times
·
11m ago
Medial
Startups in July 2024 raised a total funding of $718.3 million, representing a 3.9% decrease compared to the same period last year. The funding was obtained through 72 rounds, with Purplle and Rapido emerging as the top fundraisers, securing $120 million each. Other notable deals included Partior, a blockchain-based clearing network that raised $60 million, and Auxilo Finserve, an education-focused non-banking financial company that raised $33.4 million. In the last week, deal value increased significantly to $214.1 million from 18 rounds.
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Bottomline: Insitor, Aarin-backed Unitus' impact-oriented lending arm crosses $100 mn AUM
VCCircle
·
1y ago
Medial
Insitor, the impact-oriented lending arm of UC Inclusive Credit, has reached an asset under management (AUM) of over $100 million. The company, formed in 2019 and supported by investors like Aarin Capital and Unitus Capital, focuses on providing capital to social startups through different debt instruments. Despite its growth, UC Inclusive Credit maintains a strong asset quality.
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ETtech Deals Digest: Startup funding plunges 28% on-year to $210 million this week
Economic Times
·
12m ago
Medial
Startups raised $210.4 million in funding during the third week of July, which is a 28.2% decrease compared to the same period last year. However, it represents a significant increase of 200.6% compared to the previous week's funding total of $70 million. The biggest funding round of the week was led by Peak XV Partners, raising $60 million for blockchain-based clearing and settlement network Partior. Other notable deals include Auxilo Finserve raising $33.4 million, BluSmart securing $24 million, Lenskart's founders investing $20 million, Newme raising $18 million, and Namma Yatri securing $11 million in its maiden funding round.
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LeapFrog taps another LP after raising corpus for latest climate fund last year
VCCircle
·
10m ago
Medial
LeapFrog Investments, a sustainability-focused impact investment firm backed by Temasek, has secured a returning limited partner for its climate transition fund. The fund, which aims to invest in companies addressing climate change in Asia and Africa, was launched in July last year. LeapFrog has successfully raised capital for this latest climate fund, demonstrating its commitment to drive positive environmental impact through investment in these regions.
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