Auxilo, a Education-focused non-banking financial corporation (NBFC), has successfully raised Rs 50 crore in debt from Motilal Oswal. At a face value of Rs 1,00,000 each aggregating to Rs 50 crore in Series I and Series II of 2,500 NCDs each, Auxilo has allotted 5,000 Non-Convertible Debentures (NCDs) to Motilal Oswal Finvest Limited.
Also to note, the Series I debentures have a tenure of 2 years with a rate of interest standing at 9.7 percent per annum. On the other hand, with a tenure of 3 years, according to the filing, the Series II debentures carry 9.8 percent annual interest.
If we speak of the company, Auxilo Finserve offers education loans to students to help pursue higher studies in India and abroad. It also offers loans to educational institutes to revamp infrastructure modernization. Adding to this, its educational loans include all the expenses related to the course which include classroom expenditures, pre-visa approvals, air-fares, among others.
To speak of the funding, Auxilo has raised over USD 100 million across equity and debt since its inception. Additionally, Auxilo has recorded a 100 percent year-on-year growth in its revenue from Rs 178 crore in FY23 to Rs 356 crore in FY24. Its bottom line jumped 2.68X to Rs 69.2 crore in the previous fiscal (FY24), on the back of strong growth.
With this, it will be the fourth recent investment by the Motilal Oswal Group in Indian startups. Previously, it had spearheaded a USD 350 million funding round for the quick commerce platform Zepto and participated in Zomato’s USD 1 billion fundraising through a Qualified Institutional Placement (QIP) in November 2024. And in the recent past, it has also invested USD 12 million in the IPO-bound B2B seafood startup Captain Fresh.
