Total amount raised
$37.5 Million
Latest funding date
02/01/2022
Location
Propelld has successfully raised funds through four distinct funding rounds, with the latest being a Series B round. The platform has garnered the support of 11 investors, including notable names like Stellaris Venture Partners and India Quotient.
Propelld's innovative approach to providing education-focused financial solutions has attracted significant interest from the investment community. Keep reading to explore the intricacies of Propelld's fundraising journey and the investors backing this promising platform.
What Is Propelld?
Propelld is an education-focused fintech platform based in Bangalore, Karnataka, India. The company operates in the EdTech, Education, Financial Services, and FinTech industries, providing students with access to funding for completing their education.
Founded in an unspecified year, Propelld has grown to employ between 251 and 500 people. The platform is private and currently in the Series B funding stage, reflecting its ongoing expansion and development in the financial services sector.
How Much Funding Has Propelld Raised?
- Series B
- Amount Raised: USD 35,000,000
- 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, enhance in-house technologies, and improve their collection systems.
- Series A
- Amount Raised: USD 2,200,000
- 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 increase its market reach.
- Seed
- Amount Raised: USD 250,000
- Date: August 2018
- Lead Investors: IAN Angel Fund, IAN Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Propelld aimed to develop its initial product offerings and establish a market presence.
- Seed
- 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 launch its platform and begin operations.
Total Amount Raised: USD 37,450,000. Current Valuation: Not publicly disclosed.
Key Investors
- WestBridge Capital
- Details: WestBridge Capital is a private equity firm that focuses on investments in India and South Asia. They have a strong track record of investing in high-growth companies across various sectors.
- Investment Focus Areas: Financial services, consumer services, healthcare, technology
- Notable Investments: PolicyBazaar, OYO Rooms, JustDial
- India Quotient
- Details: India Quotient is a venture capital firm that invests in early-stage startups in India. They focus on technology-driven companies that have the potential to disrupt traditional markets.
- Investment Focus Areas: Consumer internet, fintech, SaaS
- Notable Investments: ShareChat, Lendingkart, Sugar Cosmetics
- Stellaris Venture Partners
- Details: Stellaris Venture Partners is a venture capital firm that invests in early-stage technology companies in India. They aim to support startups that leverage technology to create innovative solutions.
- Investment Focus Areas: SaaS, consumer internet, fintech
- Notable Investments: Mamaearth, Whatfix, LoadShare
- IAN Angel Fund
- Details: IAN Angel Fund is an angel investment network that funds early-stage startups. They provide not only capital but also mentorship and strategic guidance to their portfolio companies.
- Investment Focus Areas: Various sectors
- Notable Investments: Druva, Box8, WebEngage
- IAN Group
- Details: IAN Group is a network of angel investors that provides funding and mentorship to startups. They focus on helping early-stage companies grow and scale their operations.
- Investment Focus Areas: Diverse sectors
- Notable Investments: Druva, Box8, WebEngage
What's Next for Propelld?
Propelld is poised to seize significant opportunities in the education sector. With plans to expand into new educational areas and enhance their in-house technologies, the company is well-positioned for growth. Their collaboration with over 550 educational institutions and the intention to increase their workforce by 100-150 employees highlight the vast potential ahead.
Future fundraising opportunities look promising, given the strong backing from major investors like WestBridge Capital and Stellaris Venture Partners. Propelld's recent success in securing $35 million in Series B funding suggests that further investment rounds are likely as the company continues to innovate and expand.
However, Propelld may face challenges such as competition from other fintech companies and regulatory hurdles in the financial and educational sectors. Ensuring the quality and reliability of their financial products while managing rapid growth will be crucial for their sustained success.
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