Auxilo Finserve aims to fund 10,000 schools, education institutes in India by 2028

NEW DELHI: Auxilo Finserve has announced about funding more than 10,000 schools and education institutes across India over the next five years. The organisation will provide financing to educational institutions to meet their needs in areas such as capacity development, land purchase for building expansion, teaching facility upgrades, and debt repayment.

Speaking on the Education Institution Loan (EIL) business, Neeraj Saxena, MD and 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”.

Aim to modernise existing facilities

With the aim of providing support to the entire education eco-system in India, Auxilo will provide funds to education institutes like play schools, pre-schools, K-12 schools, boarding schools, colleges, universities, vocational colleges and institutions focused 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.

“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” added Saxena.

Education loans to over 10,000 students

Auxilo has provided funds to over 165 educational institutions for infrastructure expansion and working capital needs. Auxilo Finserve has granted education loans to over 10,000 students from 1250 universities and educational institutes in 31 countries.

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In July 2023, the firm raised INR 470 crore from a group of funds including Tata Capital Growth Fund II, Trifecta Leaders Fund-I, and Xponentia Opportunities Fund-II, as well as its current stakeholder ICICI Bank. In FY 2020-23, the company's Assets under Management (AUM) grew at a CAGR of 52.7%, reaching over INR 2500 crore.

“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 education 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, ” said Neeraj Sharma, chief business officer, EIL.