We plan to establish ourselves as the undisputed market leader in the Edtech upskilling and education markets, where we currently have a full presence.
Tell us about your startup? What was the idea behind the launch of Propelld?
a. Propelld is an education finance startup based in Bangalore. The fintech company partners with educational institutions and helps them finance the education of their learners (students).
I. Propelld works with over 550 educational institutions across India
ii. Propelld partners with multiple lenders i.e. banks and NBFCs for the provision of funds
iii. Propelld even serves remote parts of the country
a. We create customized loan products for all segments of educational institutions depending on the type of course, its end use and the profiles of borrowers coming to these institutes
b. The loan process is fast and transparent on the Propelld portal
vs. The loan process is 100% digital and requires no manual documentation
D. We go beyond traditional credit underwriting methods to assess each learner’s repayment capabilities. We also consider academic data, institute data, and other relevant data before developing a funding plan.
The idea behind Propelld:
I. Quality education has exponential benefits in every society, and we believe that no one should lose access to quality education due to financial barriers. Traditional student loans are underwritten based on student or parent security and current credit status, which ultimately defeats the purpose of student financing. ‘education.
Additionally, traditional financial institutions take a retail financing approach to education, whereas the nature of educational programs necessitates a project financing approach. Project financing allows loan products to be flexible for students.
A project finance approach translated into education finance allows credit underwriting to go beyond traditional methods and assess additional data such as course outcome, student academic performance, from the educational institution.
The education industry needs a specialist fundraiser to meet its specific needs. This is where Propelld comes in.
What services does Propelld offer? Who is your target audience?
Propelld partners with educational institutions to provide flexible funding options to their students. Our target audience is twofold, educational institutions and students. We work in a B2B2C model to provide funding to students for their education through partner institutions. Moreover, we also help institutes to onboard students faster with multiple and personalized loan products.
How many loans are they disbursing in 2021 and planning for 2022?
a. In 2021, we disbursed loans for over 50,000 students. Going forward, we plan to triple the number of loans disbursed to 1,50,000 in 2022
Growth of Propelld in 2021
At Propelld we have seen a 250% YoY (2020 to 2021)
Plans for Propelld in 2022
a. After obtaining a market-appropriate product in the K-12 school segment of the education market, we intend to make aggressive efforts to the same extent that these are the most important segments of the education market. .
b. We plan to establish ourselves as the undisputed market leader in the Edtech upskilling and education markets, where we currently have a full presence.
How much funding have they received so far? Please share the names of the investors?
a. Seed round – 250k USD
b. Series-A – 2 million USD
vs. Investor names
I. Indian quotient
ii. Indian Angel Network
iii. Stellaris Venture Partners
What are your plans for funding the next series?
We will soon move on to the next round.
What trends do you expect in the Edu-fin industry in 2022?
a. Outcome-based courses will grow in popularity, and as a result, outcome-based funding for these courses will as well.
b. In the era of “Buy Now, Pay Later”, “Study Now, Pay Later” will also get huge traction.
vs. The financing products will be more adapted to the requirements of the course offer.
According to the ideas, what new courses will watch in the next for the financing of education?
Funding for technical courses has been in high demand in recent years. According to reports, the same pattern will repeat itself this year as well. These technical courses mainly concern data science, AI/ML and web development.