Auxilo Finserve, an education-focused NBFC, has raised $30 million from LeapFrog Investments through its investment vehicle Jade Inclusion Ltd. The firm will be raising Rs 279 crore in its fresh round as per a statement released by the company. This round also saw participation from existing investors Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II.
Auxilo has entered into definitive agreements with the investors and the closing of the transaction will happen in the near future, the release states.
The latest funding will be utilised to expand customer reach, enhance student funding, incorporate technological infrastructure across business processes, and boost the company’s institutional lending segment.
“LeapFrog’s commitment to social impact aligns perfectly with our vision of empowering individuals through education. This investment, along with continued support from our existing investors, will enhance our ability to support students in achieving their academic dreams,” said Neeraj Saxena, MD & CEO at Auxilo.
Auxilo’s loans and advances have grown at 75% CAGR (Compound Annual Growth Rate) during FY21-24 and stands at Rs 2,878 crore as on March 31, 2024.
“LeapFrog is dedicated to supporting springboards into prosperity across a range of sectors in India–from finance and insurance, to healthcare and clean technologies. With Auxilo, we see a unique opportunity to enable the best and brightest to pursue their dreams of higher education and training, no matter their financial background. We look forward to working with Neeraj and the team,” added Stewart Langdon, Partner and Head of Digital at LeapFrog Investments.
