Auxilo Finserve, India’s fastest growing education ecosystem NBFC, announced that it has raised Rs37.5 crore from one of the country’s largest integrated sugar manufacturing companies, BalrampurChini Mills Limited (BCML). With this equity capital infusion, BCML gets equal shareholding in the company along with Aakash Bhansali, who leads the principal investments unit of Enam Holdings, with an equal investment value.
Both investors have made a long-term commitments for equity investment of Rs 350 crore - with each one of them committing at least Rs 175 crore in tranches. BCML had approved the investment to the tune of Rs 175 Cr in Auxilo, in its board meeting held in September 2017.
Speaking on future plans, Neeraj Saxena, MD and CEO, Auxilo Finserve shares, “We’re moving ahead as per our roadmap in valuing dreams of students opting for higher studies and fulfill the unfulfilled financing needs of small-to-big size schools in India. Our country’s rising needs, especially from smaller towns or cities, for possessing higher education is spurring ahead, and we’re making our financial solutions in such a way so that it can match their needs and repayment terms. We’re coming up with futuristic educational solutions that might become a game-changer.”
Starting operations in October 2017, Auxilo Finserve has aggressively spread its wings through setting up specialized centres in major educational hub-cities – Mumbai, Hyderabad, Chennai, Delhi, Bangalore and Pune.
As a responsible educational financier, Auxilo Finserve has launched its first of its kind financial solution product for women during this month, and is encouraging female students to apply for higher study loans to avail zero processing fees.
The NBFC essentially provides education loans to two major categories – students for higher studies (international and local) and educational institutes for infrastructure modernization. Students may not only obtain education fees up to 100 percent but may also receive finances on their classroom expenditures, pre-visa approval, air fares and almost everything related to education cost. Similarly, educational institutes are encouraged to receive finances in creating basic to advanced infrastructure needs to be future ready.
Auxilo is a pro-education non-banking financial company registered with the RBI. The company is conceptualized with the objective of serving the education sector by bridging the financing gaps of the entire education eco system.