Auxilo Finserve, an education-focused NBFC, said it had secured ₹279 crore in a fresh round of equity funding from a clutch of investors led by LeapFrog Investments and existing investors Trifecta Leaders Fund-I and Xponentia Opportunities Fund-II.

LeapFrog Investments, a “profit with purpose investment firm”, has committed to invest $30 million ( about ₹250 crore) in the current round through its investment vehicle Jade Inclusion Ltd, the firm said. 

“LeapFrog’s commitment to social impact aligns perfectly with our vision of empowering individuals through education. This investment, along with continued support from our existing investors, will enhance our ability to support students in achieving their academic dreams,” said Neeraj Saxena, MD & CEO, Auxilo.

The new round of capital infusion will be utilised to expand customer reach, enhance student funding, incorporate technological infrastructure across business processes, and boost the company’s Institutional lending segment, the firm said.

Stewart Langdon, Partner and Head of Digital at LeapFrog Investments in a statement said, “With Auxilo, we see a unique opportunity to enable the best and brightest to pursue their dreams of higher education and training, no matter their financial background.”