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Exclusive: Edu-fintech company Auxilo raises Rs 225 Cr debt

EntrackrEntrackr · 13h ago
Exclusive: Edu-fintech company Auxilo raises Rs 225 Cr debt
Medial

Exclusive: Edu-fintech company Auxilo raises Rs 225 Cr debt Auxilo, an education-focused non-banking financial company (NBFC), has secured Rs 225 crore (around $25.5 million) in debt funding from Neo Group, Nuvama Wealth, Dezerv, and The South Indian Bank. Earlier this year in February, Motilal Oswal invested Rs 50 crore in Auxilo through a debt round, as exclusively reported by Entrackr. The Auxilo’s board has issued 22,500 non-convertible debentures (NCDs) at a face value of Rs 1,00,000 each to raise the above-mentioned sum, according to its filing with the Registrar of Companies (RoC). Neo Group led the debt round with a Rs 100 crore ($11.36 million) investment, while Nuvama Wealth and Dezerv contributed Rs 50 crore each, and The South Indian Bank added Rs 25 crore. The debentures carry an interest rate of 9.7% per annum with a three-year tenure, while those issued to The South Indian Bank come at a 10% annual interest rate. Founded in 2016, Auxilo 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, and airfares. For the fiscal year ended March 2025, Auxilo’s operating revenue rose nearly 50% to Rs 528 crore from Rs 357 crore in FY24. During the same period, the company’s profit surged 62% to Rs 112 crore.

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Exclusive: Education finance firm Auxilo raises $12 Mn more in debt

EntrackrEntrackr · 1y ago
Exclusive: Education finance firm Auxilo raises $12 Mn more in debt
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.

Exclusive: Motilal Oswal invests in edtech-focused NBFC Auxilo

EntrackrEntrackr · 9m ago
Exclusive: Motilal Oswal invests in edtech-focused NBFC Auxilo
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.

Exclusive: Isprava raises Rs 250 Cr debt

EntrackrEntrackr · 13d ago
Exclusive: Isprava raises Rs 250 Cr debt
Medial

Isprava Group, a luxury home development and rental firm, raises Rs 250 crore (approximately $28.4 million) in debt from Singapore-based Luxe Opco Holdings. This marks the company’s first funding in nearly three years, following its last raise of Rs 160 crore in debt from Symphony International Holdings in January 2023. The board at Isprava Vesta Pvt Ltd (parent company of Isprava) has issued 11,95,071 compulsory convertible debentures (CCDs) at an issue price of Rs 2,091.93 each to raise the above mentioned amount, according to its filing with the Registrar of Companies (RoC). In addition, the company approved an investment of Rs 108 crore in Magnara Homes Private Limited through Optionally Convertible Debentures (OCDs), according to the filing. Isprava Group, founded in 2016 by Nibhrant Shah, Dhimaan Shah, and Rohan Lamba, builds and rents luxury homes in prime locations such as Goa, Alibaug, and Coonoor. In addition to developing and selling these properties, the company offers them as high-end vacation retreats with premium services like housekeeping and private chefs. Isprava claims to have delivered over 200 homes to date. According to startup data intelligence platform TheKredible, the Mumbai-based company has raised around $188 million to date through a mix of debt and equity. Its lead investors include the Shah Family Trust and Godrej. During the fiscal year ended March 2024, the company more than doubled its revenue to Rs 452 crore while reporting a profit of Rs 63 crore. It is yet to disclose its financials for FY25.

Exclusive: FlexiLoans raises $9 Mn debt from JM Financial

EntrackrEntrackr · 1y ago
Exclusive: FlexiLoans raises $9 Mn debt from JM Financial
Medial

MSMEs-focused fintech lender FlexiLoans has raised Rs 75 crore (approximately $9 million) via non-convertible debt from JM Financial. This is the second debt round for the Mumbai-based company this year. The board at FlexiLoans has passed a resolution to issue 7,500 non-convertible debentures to raise Rs 75 crore, according to the company’s internal documents accessed by Entrackr. The debt has a coupon rate (interest) of 12.05% per annum with a tenure of 24 months. The company intends to utilize the funds for the ongoing business operations, the documents added. The debt infusion has come at a time when the firm is set to secure $35 million in funding from late-stage fund Fundamentum, co-founded by Infosys veteran Nandan Nilekani. Founded by Deepak Jain, Manish Lunia, Ritesh Jain, and Abhishek Kothari, FlexiLoans offers collateral-free loans to MSMEs. The firm has raised over $124 million to date in a mix of equity and debt including a $90 million Series B round from Fasanara Capital, MAJ Invest, Caravel Group, among others in June 2022. As per its website, the company has disbursed over Rs 7,000 crore of loans. Besides partnerships with over 400 partners, Flexiloans also lends through its NBFC — Epimoney. The company gives loans in the range of Rs 50,000 to Rs 1 crore with a maximum tenure of 36 months. The fintech firm grew at a fast pace in the fiscal year ending March 2024 as its collection jumped 2.4X year-on-year. Its operating revenue soared to Rs 262 crore in FY24 from Rs 109 crore in FY23. During the period, the company also maintained its profitability with Rs 3 crore PAT. FlexiLoans competes with a clutch of fintech firms including Lendingkart, Indifi, Incred, Oxyzo and Aye Finance.

Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures

EntrackrEntrackr · 1y ago
Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures
Medial

Small and medium enterprises focused digital lending platform Lendingkart has secured Rs 100 crore ($12 million) in debt and Rs 8 crore (nearly $1 million) in equity from Stride Ventures. This is the second major debt closure by the Ahmedabad-based firm in the past year. The board at Lendingkart has passed a board resolution to issue 10,000 non-convertible debentures and 454 Series D5 CCPS to raise Rs 108 crore or $13 million, its regulatory filing accessed from the RoC shows. As per the filings, the Temasek-backed company has raised Rs 318 crore ($38 million) in debt to date. Lendingkart will receive the debt fund in two tranches of Rs 50 crore ($6 million) each and it will carry a coupon rate of 14% per annum. According to the startup data intelligence platform TheKredible, the company has been valued at around $690 million post-allotment. Just last month, LendingKart raised $10 million through external commercial borrowing (ECBs) from a fund managed by BlueOrchard. As of now, Lenskart has mopped up Rs 1,050 crore ($126 million) in equity capital from investors like Fullerton, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia and India Quotient. Lendingkart disburses loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSME business owners. As per its website, it has disbursed over Rs 18,700 crore to over 300,000 businesses present in 4,100 cities. Lendingkart performed well in FY23 as its revenue from operations grew by 33.4% to Rs 858 crore. Meanwhile, the firm also posted Rs 119 crore profit in the same period. It’s yet to file annual financial results for FY24. As per a media report, the company is planning for an initial public offering (IPO) by next year. Lenskart is targeting to cross Rs 10,000 crore in assets under management before going public.

Exclusive: StockGro secures Rs 50 Cr debt from Trifecta

EntrackrEntrackr · 2m ago
Exclusive: StockGro secures Rs 50 Cr debt from Trifecta
Medial

url: https://entrackr.com/exclusive/exclusive-stockgro-secures-rs-50-cr-debt-from-trifecta-9780883 Content: Social investment and stock market advisory platform StockGro raised Rs 50 crore ($5.7 million) in debt funding from its existing investor Trifecta Capital. This debt funding follows the Rs 205 crore ($25 million) raised in two tranches in January 2024 from Hindustan Media Ventures and Trifecta Capital. According to filings with the Registrar of Companies (RoC), StockGro’s board approved the issuance of 500 Series B non-convertible debentures at a face value of Rs 10 lakh each, raising Rs 50 crore from Trifecta Capital. Founded in 2020 by former venture capitalist Ajay Lakhotia, the Bengaluru-based StockGro is a fintech platform that simplifies stock market investing through SEBI-registered advisors, offering investment advisory, portfolio management, and educational resources to help users navigate the market. Recently, StockGro has launched Stoxo, India’s first AI-powered stock market research engine. It offers real-time, reliable insights to help retail investors make better decisions. According to startup data intelligence platform TheKredible, the BITCRAFT Ventures-backed company raised over $50 million in both debt and equity, including its $32 million Series A round raised in January 2022. While the company is yet to file its FY25 numbers, its revenue from operations fell 34% to Rs 86.5 crore in FY24 from Rs 131 crore in FY23. During the same period, losses surged 84% to Rs 101 crore.

Exclusive: Ola Electric raises Rs 100 Cr debt ahead of IPO

EntrackrEntrackr · 1y ago
Exclusive: Ola Electric raises Rs 100 Cr debt ahead of IPO
Medial

IPO-bound Ola Electric has raised Rs 100 crore (approximately $12 million) in debt from Alteria Capital. This is the second round of debt funding for the Bengaluru-based company in 2024. The board at Ola Electric has passed a special resolution to issue 10,000 non-convertible dentures at an issue price of Rs 1,00,00 each to raise Rs 100 crore, its regulatory filings accessed from the Registrar of Companies (RoC) show. The development comes after two months of its $50 million debt funding from EvolutionX. According to the filings, the debentures have an interest rate of 13.8% per annum with an additional 2% interest per month over and above the coupon rate, in case of default of interest. As per the startup data intelligence platform TheKredible, the Bhavish Aggarwal-led company has raised more than $1 billion across equity and debt and was valued at $5.4 billion during the last round. In December 2023, Ola Electric filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 5,500 crore ($660 million). As per media reports, the company has also received a green signal from market regulator SEBI for the public listing. Based on the DRHP filed by Ola Electric, Bhavish Aggarwal is the largest stakeholder with 36.94% followed by Soft Bank which commands 21.98% of the company. Tiger Global, Indus Trust, and Alpha Wave own 6.03%, 3.85% and 3.49%, respectively. Ola Electric grew at a rapid clip in FY23 which could be evident from its revenue that surged seven-fold to Rs 2,631 crore as compared to Rs 373 crore in FY22. Meanwhile, its losses increased by 87.76% to Rs 1,472 crore in the fiscal year ending March 2023. In the two-wheeler electric vehicles segment, the SoftBank-backed company competes with Hero Electric, Ather Energy, TVS, among others. As per Vahan data, Ola Electric controls 49% market share in two-wheeler EVs with 37,191 e-scooter registrations in May.

Exclusive: Infra.Market raises Rs 150 Cr debt led by Yubi

EntrackrEntrackr · 1y ago
Exclusive: Infra.Market raises Rs 150 Cr debt led by Yubi
Medial

Infra.Market has secured Rs 150 crore (approximately $18 million) in debt financing over the past two months. The debt infusion for the Mumbai-based firm follows the $50 million equity round from the Mars Unicorn Fund — a joint venture of Liquidity Group and MUFG. The board at Infra.Market has approved a special resolution to issue non-convertible redeemable debentures to raise Rs 150 crore. Previously, the committee had approved a resolution to raise up to Rs 500 crore through debentures. The new infusion is the tranche of Rs 500 crore. Yubi has invested Rs 80 crore while Raymond Limited, IKF Home Finance, and Samunnati Financial participated with Rs 25 crore, Rs 25 crore, and Rs 20 crore, respectively. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It is targeting the growing construction materials market, with a strong focus on the infrastructure sector. The company caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector. As per the company, it supplies across 16 states in India and also exports to markets such as Dubai, Singapore, Jordan, and Italy, among others. To date, Infra.Market has raised around $520 million across equity and debt. According to the startup intelligence data platform TheKredible, Tiger Global was the largest external stakeholder with 21.33% followed by Accel and Nexus Ventures which own 16.87% and 8.46%, respectively, before this round. While the company is yet to file its annual statements for FY24, Infra.Market’s gross revenue rose 89% to Rs 11,846 crore in FY23. Tiger global-backed firm’s profit slipped 17% to Rs 155 crore in the same period (FY23). Infra.Market’s competition includes OfBusiness, Moglix and Zetwerk, among others. OfBusiness recorded nearly Rs 20,000 crore in revenue and Rs 603 crore profit in FY24. Entrackr exclusively reported the firm’s financial numbers on July 8. Meanwhile, Zetwerk and Moglix are yet to report last fiscal year (FY24) numbers.

Exclusive: IPO-bound Ather Energy raises Rs 60 Cr debt

EntrackrEntrackr · 1y ago
Exclusive: IPO-bound Ather Energy raises Rs 60 Cr debt
Medial

Ather Energy has continued to raise debt funding before its potential public listing. The Bengaluru-based company has raised Rs 60 crore (over $7 million) in debt from Stride Ventures through its trustee Vistra ITCL. This is the second debt infusion in the electric scooter manufacturer in the past two months. Stride Ventures invested Rs 200 crore via debentures in May. Entrackr had exclusively reported the fundraise which also had equity investment from co-founders. While Ather IPO timeline is yet to be known, it took a definitive step towards public listing by converting itself into a public company in June. Ather has raised around $450 million to date from the likes of Tiger Global and Hero MotoCorp. As per the startup data intelligence platform TheKredible, Hero Moto Corp is an associate company of Ather and controls around 38% stake. Following a four-fold growth during FY23, Ather’s revenue from operations decreased slightly to Rs 1,754 crore in FY24 from Rs 1,781 crore in FY23, as per disclosure made by Hero Moto Corp. The sale of scooters was the primary source of revenue for Ather while after-sale and subscription services were other income channels. Ather maintained its position as the fourth largest two-wheeler EV manufacturer with 6,097 units sold in June 2024 and a market share of 7.66%, according to Vahan data. Its arch rival Ola Electric stayed on top with sales of 36,716 units, controlling a market share of 44%. The company recently said that it will set up its third manufacturing plant in Maharashtra with an investment of Rs 2,000 crore. The new facility will produce electric two-wheelers as well as battery packs.

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