Edgro Finance is a Non-banking Finance startup that offers education loans. Education-based fintech  startup Propelld has secured debt funding of $25 million for its NBFC Edgro Finance. Edgro is a  subsidiary owned by Propelld, founded in 2019 by Bibhu Prasad Das, Brijesh Samantaray, and Victor  Senapaty.  

The start-up raised funding of $25 million from 9 lenders including Credit Saison India, Incred Financial  Service, AU small finance bank, and Northen Arc Capital. Propelld provides education loans to those  who want to borrow money via online channels. The head of debt and lending alliance at Propelld,  Nikunj Agarwal mentioned that the idea behind this funding round was to scale up its NBFC business  and Edgro with the fresh capital earned. The startup will be using these funds to offer education loans  and provide needed students accessibility and flexibility of various loan options. 

Edgro Finance focuses on education loans and financial services. It offers services like education loan  customization and loan processes for different education streams. The startup offers low-interest student loans, the Propelld Education Loan interest rates start from 11.50% p.a. The startup was  founded in 2019 to offer online loaning options to students. Nikunj Agarwal emphasized Propelld’s  plan to ensure a diverse category of loan lenders on the supply side. The company is planning to enhance its platform, scale up its existing segments, and expand in the fintech sector.  

The company also mentioned upcoming features like long-distance learning courses for its users. Other  digital lending partners of Propelld apart from Edgro include Avanse Financial Services, Aditya Birla  Capital, and JM Financial. Propelld previously raised $35 trillion in its series B funding round led by  WestBridge Capital. The Fintech startup has connections with over 3000 educational institutes and has successfully lent over 2.5 lakh education loans to date. According to a report by inc42, the Indian digital  lending market is expected to go over $1.3 trillion by the end of 2030. Propelld, a leading education  financing platform came together with Edgro a non-banking Finance startup to provide education loans  to students pursuing higher education.

Conclusion: 

Education-based fintech startup Propelld has secured debt funding of $25 million for its NBFC Edgro  Finance. Edgro is a non-banking Finance startup that provides education loans to students pursuing  higher education through their partnership with Propelld, a leading education financing platform. The  start-up raised funding of $25 million from 9 lenders including Credit Saison India, Incred Financial  Service, AU small finance bank, and Northen Arc Capital. Propelld provides education loans to those  who want to borrow money via online channels.

The startup was founded in 2019 to offer online  loaning options to students. Nikunj Agarwal emphasized Propelld’s plan to ensure a diverse category  of loan lenders on the supply side. The company is planning to enhance its platform, scale up its  existing segments, and expand in the fintech sector. The company is planning to enhance its platform, scale up its existing segments, and expand in the fintech sector.