Propelld raises $35 Million in Series B funding

Propelld stated the raise of $35 million in Series B funding round led by WestBridge Capital. Currently employing 150, Propelld plans to feature more than 100-150 personnel over the following 12 months throughout technology, commercial enterprise improvement, and collections.

The fintech platform was founded in 2017 by the IIT Madras trio of Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray. Propelld has tie-ups with more than 500 educational institutions and is planning an annual loan disbursal run rate of Rs 600 crore.

The startup works with educational institutes to increase learners' tuition fee affordability with customized loan products. The company has said that the new funds will be utilized to further strengthen in-house tech and collection capabilities, with the introduction of new financing products and building distribution capabilities across segments.