ducation-focused non-banking financial corporation (NBFC) Auxilo has raised Rs 100 crore (approximately $12 million) in a recent debt financing round. This round involved the issuance of non-convertible debentures (NCDs) at Rs 1,00,000 each, according to regulatory filings accessed from the Registrar of Companies (RoC).
Dezerv Securities contributed Rs 26.39 crore, while MAS Financial Services and CredAvenue Securities (Yubi) each invested Rs 25 crore. The remaining balance is expected to be released soon. The NCDs issued to MAS Financial and CredAvenue (Yubi) have a 36-month tenure with an interest rate of 9.65%, whereas those issued to Dezerv have a 29-month tenure with an annual coupon rate of 9.90%.
This financing follows Auxilo’s recent $33.6 million equity round led by private equity firm LeapFrog Investments. LeapFrog invested $30 million, while Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II contributed the remaining capital. The current debt funding is separate from this equity round.
Since its inception in 2017, Auxilo has raised approximately $145 million through both equity and debt, including a $57 million funding round led by Tata Capital Growth in July last year. Auxilo provides student loans for education both within India and abroad and extends loans to educational institutions for infrastructure and working capital needs.
Auxilo has supported over 12,000 students across more than 1,100 universities and educational institutes in over 30 countries. The company aims to disburse Rs 25,000 crore in loans to over 150,000 students in the next five years.
In FY23, Auxilo demonstrated strong financial performance, achieving over 2X year-on-year growth to reach Rs 174 crore in revenue, with profits doubling to Rs 26 crore. The company has yet to file its annual results for FY24.
