Total amount raised
$37.5 Millions
Latest funding date
02/01/2022
Location
Propelld has successfully raised funds through multiple rounds, with the most recent being a Series B round closed on February 18, 2022. The platform offers financial solutions to students, providing income-dependent education loans to those who may not have access to traditional financial institutions.
With 11 investors backing the company, including Stellaris Venture Partners and India Quotient, Propelld continues to grow its impact in the education sector. Keep reading to explore the intricacies of Propelld's fundraising journey and the investors supporting this innovative platform.
What Is Propelld?
Propelld, founded in 2017, is an education-focused fintech platform based in Bangalore, Karnataka, India. The company was established by Bibhu Prasad Das, Brijesh Samantaray, and Victor Senapaty.
Propelld provides financial solutions to students, offering income-dependent education loans and other funding options to those who may not have access to traditional financial institutions. The platform connects students with investors, ensuring they can complete their education without financial barriers.
With a team of 251-500 employees, Propelld continues to grow and make a significant impact in the education sector by addressing the financial needs of students.
How Much Funding Has Propelld Raised?
- Series B
- Amount Raised: $35M
- Date: February 2022
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Propelld aimed to expand into new educational areas, develop in-house technologies, and improve their collection systems. The company also planned to grow its team by adding 100-150 employees in technology and business development.
- Series A
- Amount Raised: $2.2M
- Date: July 2019
- Lead Investors: India Quotient, Stellaris Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Propelld sought to scale its operations and enhance its education financing solutions to reach more students.
- Seed Round (August 2018)
- Amount Raised: $250K
- Date: August 2018
- Lead Investors: IAN Fund, IAN Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds were intended to support the initial development and launch of Propelld's education financing platform.
- Seed Round (April 2017)
- Amount Raised: Not publicly disclosed
- Date: April 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Propelld aimed to establish its presence in the education financing sector and develop its core technology.
Total Amount Raised: $37.45M
Current Valuation: Not publicly disclosed
Key Investors
- WestBridge Capital
- Details: WestBridge Capital is a leading investment firm that focuses on investing in high-growth companies. They have a strong presence in the Indian market and are known for their strategic investments in various sectors.
- Investment Focus Areas: High-growth companies across various sectors.
- Notable Investments: Specific notable investments are not mentioned in the provided sources.
- India Quotient
- Details: India Quotient is an early-stage venture capital firm that invests in innovative startups in India. They focus on companies that have the potential to scale and disrupt traditional markets.
- Investment Focus Areas: Innovative startups in India, particularly those that can scale and disrupt traditional markets.
- Notable Investments: Specific notable investments are not mentioned in the provided sources.
- Stellaris Venture Partners
- Details: Stellaris Venture Partners is a venture capital firm that invests in early-stage technology companies. They are known for their focus on leveraging technology to drive growth and efficiency.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Specific notable investments are not mentioned in the provided sources.
- IAN Fund
- Details: IAN Fund is part of the Indian Angel Network, which is one of the largest angel investor networks in India. They focus on providing early-stage funding to startups across various sectors.
- Investment Focus Areas: Early-stage startups across various sectors.
- Notable Investments: Specific notable investments are not mentioned in the provided sources.
- IAN Group
- Details: IAN Group is associated with the Indian Angel Network and provides funding and mentorship to early-stage startups. They have a broad investment portfolio across different industries.
- Investment Focus Areas: Early-stage startups across different industries.
- Notable Investments: Specific notable investments are not mentioned in the provided sources.
What's Next for Propelld?
Propelld is poised to seize significant opportunities by expanding into new educational areas and enhancing its in-house technologies. With a $35 million investment, the company plans to collaborate with more educational institutions and develop better financial products, potentially increasing its team size by 100-150 employees.
Future fundraising opportunities look promising as Propelld continues to demonstrate growth and successful implementation of its current investment. The company may attract more investors by showcasing its expansion and technological advancements.
However, Propelld might face challenges such as competition from other fintech companies, regulatory hurdles, and ensuring the scalability and reliability of their technology. Maintaining partnerships and trust with educational institutions will also be crucial for their sustained growth.
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