Auxilo Finserve’s Skyrocketing Growth in Gujarat’s Education Loan Sector
Newzdaddy Business Updates
Synopsis of the Article:
- Auxilo Finserve has registered over 95% CAGR in overseas education loans in Gujarat over the past three years.
- The company aims for 25% growth in overseas education loans across India for the current fiscal year.
- Auxilo plans to expand its presence by opening new offices in Rajkot and Baroda, increasing its locations in Gujarat to 18.
- In 2023, approximately 1,05,600 students from Gujarat went abroad for higher education, making up 14.08% of all Indian students studying overseas.
- Shweta Guru, CBO – Overseas Loans at Auxilo, notes the post-pandemic rise in overseas education demand.
- Auxilo’s loan amounts range from ₹35 lakh to ₹1 crore, with popular destinations including the US, UK, Canada, Ireland, and Australia.
- The preferred courses among Indian students are in Computer Science, Information Systems, Business Administration, Business Analytics, and Data Science.
- Auxilo has funded education for over 12,000 students at more than 1,100 universities in 25 countries.
- The company’s AUM for FY 2020-23 has grown at ~82% CAGR, reaching approximately INR 3604 crore.
- Auxilo raised $30 million in July 2024, supported by LeapFrog Investments, Trifecta Leaders Fund I, and Xponentia Opportunities Fund II.
Over the last three fiscal years, Auxilo Finserve, a well-known non-banking financial corporation (NBFC) with a focus on education finance, has achieved an outstanding Compound Annual Growth Rate (CAGR) of more than 95% in Gujarat’s foreign education loan market. This extraordinary expansion demonstrates Auxilo’s dedication to helping students who want to pursue higher education overseas.
Auxilo has set a lofty goal to develop its foreign education loan business in India by more than 25% during the current fiscal year. The company intends to open new offices in Rajkot and Baroda to meet the growing demand. As a result of this growth, Auxilo will now have operations in 18 locations throughout Gujarat, including important cities like Gandhinagar, Mehsana, Kadi, Kalol, Surat, Navsari, Bardoli, Vapi, Bharuch, Ankleshwar, Baroda, Nadiad, and Anand.
Since the pandemic, there has been a sharp increase in demand for international schooling. Nearly 1,05,600 Gujarati students went overseas for higher study in 2023, an 11.8% rise from the 94,400 students who went abroad in 2022. Currently, Gujarat accounts for about 14.08% of all Indian students studying overseas.
“We have planned to gradually expand our branch network in Gujarat to meet the increasing demand for overseas education, which has grown exponentially since the pandemic,” said Shweta Guru, Chief Business Officer of abroad Loans at Auxilo. Leading institutions in the US, UK, Canada, Ireland, and Australia are the main recipients of Auxilo’s loan programs, which vary from ₹35 lakh to ₹1 crore.
Advanced courses like Master of Computer Science, Master of Information Systems, Master of Business Administration, Master of Business Analytics, and Master of Data Science are still highly preferred by Indian students. The increasing need for specialized education in the business and technological sectors is shown by this trend.
As of right now, Auxilo has helped more than 12,000 students fulfill their educational goals by assisting them in getting accepted into more than 1,100 colleges and universities in 25 different nations. Furthermore, Auxilo has given more than 170 educational institutions financial support for their working capital requirements and infrastructure expansion.
From the fiscal years 2020 to 2023, Auxilo’s assets under management (AUM) increased at a remarkable ~82% CAGR, reaching a present value of almost INR 3604 crore. The company’s second round of funding, led by LeapFrog Investments and including current investors Trifecta Leaders Fund I and Xponentia Opportunities Fund-II, successfully raised $30 million in July 2024.
Balrampur Chini Mills Ltd. is a co-investor in Auxilo Finserve, which is promoted by Akash Bhansali of ELME Advisors LLP. Because of this strong support, the company has been able to expand its financial services and help more students fulfill their aspirations of studying overseas.
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