Auxilo Finserve raises Rs 470 crore from investors

Mumbai: Akash Bhanshali and Balrampur Chini-promoted education finance company Auxilo Finserve has raised ₹470 crore from a group of funds such as Tata Capital Growth Fund II, Trifecta Leaders Fund-I, and Xponentia Opportunities Fund-II, along with existing shareholder ICICI Bank.

The education loan-focused non-bank lender's assets under management (AUM) have grown at 51% to ₹1,691 crore as on March 2023.

The company's chief executive Neeraj Saxena said the fresh funds will be used by the company to expand its loan book.


Bhanshali and Balrampur Chini continue to be majority shareholders in the company post the fund raise.