Education-focused fintech platform Propelld has raised $35 million in a Series B funding round led by WestBridge Capital.
Other investors in new funding round were Stellaris Venture Partners and India Quotient.
Propelld has around 150 employees. Propelld plans to add another 100-150 employees over the next year across technology, business development and collections.
IIT Madras trio of Bibhu Prasad Das, Victor Senapaty and Brijesh Samantaray are the founders of Propelld.
Propelld has tie-ups with over 550 educational institutes and is currently clocking an annual loan disbursal run rate of Rs 600 crore.
With a strong foothold in the ed-tech, up-skilling, and job-focused market, Propelld said it plans to expand its operations in other education segments too.
The startup works with educational institutes to increase learners’ tuition fee affordability by providing customised loan products.
Propelld will use funds to strengthen in house tech and collection capabilities, while introducing new financing products and building distribution capabilities across segments.
