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Auxilo Finserve targets to fund 10000 schools & education institutes in India by 2028

Auxilo Finserve targets to fund 10000 schools & education institutes in India by 2028

Auxilo Finserve Private Limited is a leading NBFC that is focused on providing education finance to students, schools and colleges in India.

Bengaluru, December 14, 2023: Auxilo Finserve has announced its plans to fund over 10000 schools and education institutes both across India in the coming 5 years. The company will provide finance to education institutes to meet their requirements across capacity enhancement, purchase of land for expansion of premises, upgradation of teaching facilities and for replacement of high cost debt.

With the aim to provide support to the entire education eco-system in India, Auxilo will provide finance to education institutes like play/pre-schools, K-12 schools, boarding schools, colleges, universities, vocational colleges and institutions focussed on skill based training, coaching institutes, school bus loans and education led SMEs that are into book publishing, digital content provision, IT solutions, stationery supply, furniture production and uniform distribution amongst others.

Speaking on the Education Institution Loan (EIL) business, Neeraj Saxena, MD & CEO, Auxilo Finserve said “We started educational institution funding in March 2018 but the impact of pandemic in the coming years slowed down our plans. With things back to normalcy, we are now aggressively pursuing this segment”.

Auxilo is already present in southern states like Andhra Pradesh, Telangana, Karnataka and Tamil Nadu and is strengthening its operations in other important states like Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, Haryana, Uttar Pradesh, Odisha, Jharkhand and Chhattisgarh in a phased manner.

“Auxilo aims to reach out to schools who are looking to improve their educational infrastructure to enhance quality of education, research and modernisation of their existing facilities” adds Mr. Saxena. “Our plan is to cater to loan requirements of education institutions across India. We have received encouraging responses and are hopeful of partnering with schools and other educations institutes in their overall development. Post establishing our presence across southern, central and western states in this financial year, we will foray into eastern and northern states in the next financial year” informs Neeraj Sharma, Chief Business Officer, Education Institution Loan.

Till date, Auxilo had provided finance to over 165 educational institutes for their infrastructure expansion and working capital requirements. Auxilo Finserve has provided education loans to over 10,000 aspirational students, across 1250 Universities and education institutes in over 31 countries.

In July 2023, the company raised INR 470 crore from a group of funds such as Tata Capital Growth Fund II, Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II, along with existing shareholder ICICI Bank. The company’s Assets under Management (AUM) for FY 2020-23 has grown at 52.7% CAGR (Compound Annual Growth Rate) and currently stands at INR ~2500 crore.