An education-focused fintech platform Propelld has raised Rs. 262 Crore in Series B funding round led by WestBridge Capital along with the existing investors – Stellaris Venture Partners and India Quotient. It works with educational institutes to increase learners’ tuition fee affordability by providing customized loan products through a fully digital loan journey.
Founded in 2017 by IIT Madras trio of Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray, Propelled has tie-ups with over 550 educational institutes and is currently clocking an annual loan disbursal run rate of Rs. 600 Cr. plans to grow the loan book rapidly in segments with low financing penetration and strengthen their tech platform’s capabilities to enhance the user experience of the learners and partner institutions.
The Co-founder and CEO at Propelled Bibhu Prasad Das said, “We are seeing remarkable traction from the partnerships activated in the city so far, reinforcing our belief in the business model and market opportunities.”
