Student education financing platform Propelld has raised $35 million in a Series B funding round.
Propelld CEO Bibhu Prasad Das
The round was led by WestBridge Capital and saw participation from existing investors Stellaris Venture Partners and India Quotient.
The Bangalore-based fintech says it will use the cash to strengthen its in-house technology capabilities and introduce new financing products.
Propelld says it plans to grow its loan book rapidly in a segment with low credit penetration and offer new products for various verticals within education.
The start-up also intends to add another 100 to 150 employees to its already 150-strong workforce over the next year across its technology, business development and collections teams.
Founded in 2017 by Indian Institute of Technology Madras alumni Bibhu Prasad Das, Victor Senapaty and Brijesh Samantaray, Propelld works with more than 550 educational institutions.
