Auxilo is a non-banking finance company that provides education loans to students wanting to study  abroad and education-related purposes. The platform offering educational loans announced a two fold increase in its revenue to Rs 356.68 crore in FY24. The startup offers extended loaning services to  educational institutions for working capital and infrastructure requirements. These lending services  are the primary source of revenue for the company. The startup offers a seamless and secure loaning  experience using advanced technologies and artificial intelligence. 

Entrackr mentioned in its report that the firm also earns its income through processing fees and  interest on loan disbursements. The operating revenue for this financial year crossed 100.1% through  its loaning services and the firm also made Rs 10.64 crore from its non-operating services which made  total income to cross Rs 367.32 crore in FY24. The company previously secured has raised around $145  million across all its equity and debt funding rounds since its inception. This includes $33.6 million  secured during its funding round from the private VC firm LeapFrog Investments with the participation  from Trifecta leaders fund-I and Xponentia opportunities fund-II. 

Auxilo offers an online money lending and financial service platform to provide the best loaning experience. This platform enables customers to find customized loan options online without any  complex banking process. The legal, business sourcing, marketing, hosting, and other expenses  increased by 17.91 percent to Rs 54.6 crore. However, 61.35 percent of the total expenditure goes to  the interest on borrowing. The total expenditure of the firm increased by two times to Rs 274.63 crore in FY24. The startup reported a 2.5 times jump in its profit. Meanwhile, the employee benefits saw a 28.45 percent increase to Rs 41.76 crore in the same duration. 

The loaning company saw a 2.5 X increase in its profit to Rs 69.21 crore in FY24 and it plans to improve  its business model while offering more innovative solutions, positioning it well in the global market.  The company aims to control its losses by reducing its operating expenses and employee benefits. The  employee benefits have a 28.45 percent increase compared to the last year. The EBITDA margin also  increased and stood at 79.91% while the ROCE stood at 8.57 percent. Auxilo competes with other  education-based financial companies such as InCred, Eduvanz, and Avanse. 

Conclusion: 

The Education-focused financial startup Auxilo Finserv announced a two-fold increase in its revenue  to Rs 356.68 crore in FY24. This fintech startup offers customized loan services to help students provide  education loans for their studies. The loan services and interest on loans are the major source of  revenue for the company. The profit also doubled to Rs 69.21 crore in FY24. The total expenditure of  the firm increased by 75.9 percent and crossed Rs 274.63 crore in the same duration. Auxilo  plans to reduce its expenses on employee benefits to increase its profit and minimize its losses. The  company has secured over 145 million USD across multiple funding rounds to date.