Propelld Company Profile

Background

Overview

Propelld is a fintech company founded in 2017, headquartered in Bengaluru, India. It specializes in providing education financing solutions, aiming to make quality education accessible to students across the country. By offering flexible, technology-driven loan options, Propelld partners with over 5,600 educational institutions, serving students in more than 3,000 cities, including Tier 1 to Tier 3 locations.

Mission and Vision

Propelld's mission is to democratize access to education by offering innovative financing solutions that cater to the diverse needs of students. Its vision is to empower learners by providing financial support that enables them to pursue educational opportunities without financial constraints.

Industry Significance

As a leading player in India's education financing sector, Propelld addresses the critical need for accessible funding, particularly for students without traditional credit histories. Its digital-first approach and strategic partnerships have significantly contributed to enhancing financial inclusion in education.

Key Strategic Focus

Core Objectives

• Market Expansion: Broadening reach to more cities and institutions, including underserved Tier 2 and Tier 3 locations.

• Product Diversification: Introducing new financial products like personal loans for education, EduCard, and refinancing options.

• Technology Innovation: Investing in AI, automation, and modular platform design to enhance user experience and operational efficiency.

Areas of Specialization

• Education Loans: Collateral-free, flexible loans for students covering degrees, coaching, and upskilling programs.

• Digital Loan Platform: Fast, paperless application, approval, and disbursal process.

• B2B Disbursement: Loans sent directly to educational institutions to ensure funds are used for education.

• Financial Advisory: Personalized guidance to help students and families make informed financial decisions.

• Premium Products: EduCard (credit line for education expenses) and loan refinancing options.

• Institution Partnerships: Financing solutions for schools and colleges to support student enrollment.

Key Technologies Utilized

• Digital Platform: A user-friendly interface for loan applications and management.

• AI and Automation: For credit assessment and operational efficiency.

• Data Analytics: To evaluate student potential and tailor loan offerings.

Primary Markets Targeted

• Geographical Focus: India, with a significant presence in Tier 2 and Tier 3 cities.

• Demographics: Students from diverse backgrounds, including those without traditional credit histories.

Financials and Funding

Funding History

• Total Funds Raised: Approximately $70.3 million across nine funding rounds.

• Recent Funding Round: Series B, raising $35 million on February 18, 2022, led by WestBridge Capital.

• Notable Investors: WestBridge Capital, Stellaris Venture Partners, India Quotient, and others.

• Utilization of Capital: Expansion into new markets, development of new financial products, and technological enhancements.

Financial Performance

• Revenue: ₹94.83 crore ($11.5 million) in FY24, a 7.1% increase from FY23.

• Loan Disbursal: Annual run rate of ₹1,200 crore as of May 2024.

• Non-Performing Assets (NPAs): Maintained below 1%, demonstrating effective risk management.

Pipeline Development

Key Pipeline Candidates

• EduCard: A credit line product designed to cover education expenses.

• Loan Refinancing Options: Products aimed at providing better terms for existing education loans.

• Study Abroad Loans: Upcoming offerings to support students pursuing education overseas.

Stages of Development

• EduCard and Refinancing Options: Launched and operational.

• Study Abroad Loans: Planned for launch in 2025.

Target Conditions

• EduCard: Education expenses for students enrolled in partner institutions.

• Loan Refinancing: Existing education loans seeking better terms.

• Study Abroad Loans: Students aiming to pursue higher education abroad.

Anticipated Milestones

• EduCard and Refinancing: Ongoing growth and adoption among students.

• Study Abroad Loans: Expected launch in 2025, with initial disbursals in the same year.

Technological Platform and Innovation

Proprietary Technologies

• Underwriting Model: Assesses student creditworthiness beyond traditional credit scores, focusing on academic performance and earning potential.

• Digital Platform: A seamless, paperless loan application and management system.

Significant Scientific Methods

• Data Analytics: Utilized to evaluate student potential and tailor loan offerings.

• AI Algorithms: Employed for efficient credit assessment and risk management.

Leadership Team

Key Executives

• Bibhu Prasad Das: Co-Founder & CEO. Formerly with Deutsche Bank; holds an MBA from FMS Delhi and a B.Tech from IIT Madras.

• Brijesh Samantaray: Co-Founder. Experience includes roles at HSBC; studied at IIT Madras.

• Victor Senapaty: Co-Founder. Background in investment banking; alumnus of FMS Delhi and IIT Madras.

• Manoj Shetty: Chief Business Officer. Joined in October 2024 to boost study abroad loans.

Competitor Profile

Market Insights and Dynamics

• Market Size: The Indian education loan market is projected to reach $10 billion by 2025.

• Growth Potential: Increasing demand for education financing, especially in Tier 2 and Tier 3 cities.

• Industry Trends: Shift towards digital lending platforms and flexible loan products.

Competitor Analysis

• EduFund: Focuses on education financing with a digital platform.

• Eduvanz Financing: Provides education loans and financial products for students.

Strategic Collaborations and Partnerships

• Educational Institutions: Over 5,600 partner institutions across India.

• Financial Partners: Collaborations with various financial institutions to offer diverse loan products.

Operational Insights

• Market Position: Leading fintech company in education financing in India.

• Competitive Advantages: Digital-first approach, collateral-free loans, and partnerships with a vast network of educational institutions.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Market Expansion: Increase presence in underserved regions and expand partnerships with educational institutions.

• Product Innovation: Develop new financial products tailored to diverse student needs.

• Technological Advancements: Enhance AI and data analytics capabilities for better credit assessment and risk management.

Future Business Directions

• Study Abroad Loans: Launch and expand offerings for students pursuing education overseas.

• Upskilling Programs: Provide financing solutions for working professionals seeking skill enhancement.

Opportunities for Expansion

• Geographical Reach: Enter new markets within India and explore international opportunities.

• Product Diversification: Introduce additional financial products to cater to a broader audience.

Contact Information

• Website: propelld.com

• LinkedIn: Propelld