Auxilo Registers Over 95% CAGR in Overseas Education Loans in Gujarat

BILKULONLINE

Ahmedabad, Jan 20: Leading education finance NBFC, Auxilo Finserve, has recorded an impressive Compound Annual Growth Rate (CAGR) of over 95% in Gujarat over the past three financial years. The company is set to expand its presence in the state by increasing customer touchpoints across key locations to cater to the rising demand for overseas education loans.

Shweta Guru, Chief Business Officer – Overseas Loans, Auxilo, highlighted the growing demand post-pandemic, stating, “Post-pandemic, there has been an exponential growth in student numbers for overseas education, and to meet this increasing demand, we have planned to gradually expand our branch network in Gujarat.”

Currently, Auxilo operates in key locations across Gujarat, including Surat, Navsari, Bardoli, Vapi, Bharuch, Ankleshwar, Baroda, Nadiad, Anand, Ahmedabad, Gandhinagar, Mehsana, Kadi, and Kalol. The company will soon expand its footprint by adding Rajkot, Jamnagar, and Bhavnagar to its existing network and further strengthening its presence in Baroda. The regional headquarters will remain in Ahmedabad.

According to industry data, approximately 1,05,600 students from Gujarat traveled abroad for higher education in 2023, marking an 11.8% increase from 94,400 students in 2022. This accounts for around 14.08% of the total 7,50,000 Indian students who pursued education overseas that year.

Auxilo offers education loans ranging from ₹35 lakh to ₹1 crore, with students primarily opting for leading universities in the United States, United Kingdom, Canada, Ireland, and Australia. The most sought-after courses among Indian students include Master in Computer Science, Master in Information Systems, Master in Business Administration, Master in Business Analytics, and Master in Data Science.

As per industry reports, over 1.3 million Indian students traveled abroad for higher education in 2024, a significant increase from 7,50,000 students in 2023, reflecting a strong upward trend in global academic aspirations.

To date, Auxilo has supported more than 12,000 aspirational students by providing education loans across 1,100 universities and educational institutions in over 25 countries. Additionally, the company has financed over 170 educational institutions for infrastructure expansion and working capital requirements.

In July 2024, Auxilo Finserve successfully raised $30 million in its second round of funding from LeapFrog Investments, alongside existing investors such as Trifecta Leaders Fund I and Xponentia Opportunities Fund-II.

The company’s Assets Under Management (AUM) for FY 2020-23 has grown at an impressive ~82% CAGR and currently stands at approximately INR 3,604 crore.

Auxilo Finserve is promoted by Akash Bhanshali of ELME Advisors LLP and co-invested by Balrampur Chini Mills Ltd.