You can be on Entrepreneur’s cover!

Propelld Raises $35 Million In Series B Funding Round Led By WestBridge Capital Funds will be utilised to grow the loan book rapidly in a segment with low credit penetration and to offer new products for various verticals within education

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

Propelld, an education-focused fintech platform, on Friday announced to have raised $35 million in Series B funding round led by WestBridge Capital along with existing investors Stellaris Venture Partners and India Quotient. The funds will be utilised to grow the loan book rapidly in a segment with low credit penetration and to offer new products for various verticals within education.

"With the latest capital infusion, we will strive towards building better financial products for the educational ecosystem which will further benefit our partners," said Bibhu Prasad Das, co-founder and CEO, Propelld.

"India spends over $90 billion annually in education, however, the financial penetration is still very low. Propelld aims to address this gap and increase education loan accessibility to students through technology-based products. We believe Propelld will become the go-to financial player in the education domain just as we've seen strong vertical-focused financial players in other domains like affordable housing, SME lending, consumer durables etc," said Deepak Ramineedi, partner, WestBridge Capital

Founded in 2017 by IIT Madras trio Bibhu Prasad Das, Victor Senapaty and Brijesh Samantaray, Propelld has tie-ups with over 550 educational institutes and is currently clocking an annual loan disbursal run rate of INR 600 crore. Propelld plans to add another 150 employees over the next year across technology, business development and collections as Propelld aims to expand its operations in other education segments.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
News and Trends

What Led Elon Musk To Postpone India Trip

'Heavy Obligations', global layoffs and huge bot operations running on the micro-blogging site X, the reasons are plenty

Business News

James Clear Explains Why the 'Two Minute Rule' Is the Key to Long-Term Habit Building

The hardest step is usually the first one, he says. So make it short.

Science & Technology

This Influencer Has Nearly 150,000 Instagram Followers and Makes Over $10,000 a Month. There's Just One Catch — She's Not Real.

Aitana López has over 149,000 Instagram followers and brands love her. Is she the future of social media marketing?

Business News

Microsoft's New AI Can Make Photographs Sing and Talk — and It Already Has the Mona Lisa Lip-Syncing

The VASA-1 AI model was not trained on the Mona Lisa but could animate it anyway.

News and Trends

IT Firm Happiest Minds Technologies Acquires Macmillan Learning India

The deal will likely be finished by April 30 and will cost INR 4.5 crore.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.