- For the current FY, Auxilo aims to achieve a growth of over 25% in the overseas education loan segment across India
- The company will soon launch offices in Rajkot and Baroda, increasing its reach to 18 locations in Gujarat
- In 2023, nearly 1,05,600 out of the total 7,50,000 students travelled abroad from Gujarat to pursue higher education
- About 14.08% of all students travelling for overseas education are from Gujarat
NE BUSINESS BUREAU
AHMEDABAD, JAN 20
Auxilo Finserve, the leading education finance NBFC, has registered a CAGR of over 95% growth in Gujarat in the last three financial years. The company will soon increase its customer touch-points across key locations to meet the growing demand and facilitate faster processing of loans.
Shweta Guru, CBO – Overseas Loans, Auxilo informed, “Post-pandemic, there has been an exponential growth in student numbers for overseas education, and to meet this increasing demand, we have planned to gradually expand our branch network in Gujarat”.
In Gujarat, Auxilo caters to students across important locations such as Surat, Navsari, Bardoli, Vapi, Bharuch, Ankleshwar, Baroda, Nadiad, Anand, Ahmedabad, Gandhinagar, Meshana, Kadi, and Kalol. The company will soon add Rajkot, Jamnagar, Bhavnagar, and Baroda to its existing network, along with its regional headquarters in Ahmedabad.
Nearly 1,05,600 students travelled abroad in 2023 from Gujarat registering a growth of 11.8% from 2022 with 94,400 students.
“With loan amounts ranging from ₹35 lakh to ₹1 crore, students usually opt for leading universities in the US, UK, Canada, Ireland, and Australia,” added Guru.
As per data, the top courses preferred by Indian students are Master in Computer Science, Master in Information Systems, Master in Business Administration, Master in Business Analytics, and Master in Data Science among others.
As per industry reports, over 1.3 million Indian students travelled to overseas destinations to pursue higher education in 2024, indicating a strong growth from 7,50,000 students in 2023.
To date, Auxilo has provided education loans to over 12,000 aspirational students, across more than 1,100 Universities and education institutes in over 25 countries. The company has also provided finance to over 170 educational institutes for their infrastructure expansion and working capital requirements.
In July 2024, Auxilo Finserve raised $30 million in its second round of funding from LeapFrog Investments along with existing investors such as Trifecta Leaders Fund I and Xponentia Opportunities Fund-II.
The company’s Assets under Management (AUM) for FY 2020-23 has grown at ~82% CAGR (Compound Annual Growth Rate) and currently stands at Rs 3,604 crore.
Auxilo Finserve is promoted by Akash Bhanshali of ELME Advisors LLP and co-invested by Balrampur Chini Mills Ltd.
