Propelld reinforces its leadership position by partnering with top institutions in Ahmedabad
As part of its pan-India expansion strategy, education-focused fintech innovator Propelld has ventured into the largest city in the state of Gujarat by striking alliances with prominent educational institutions to market its suite of customized student loan offerings
Ahmedabad, Buoyed by its new-found status as a non-banking financial company (NBFC), Bengaluru-based digital loan provider Propelld has marked its formal entry into Gujarat by announcing new collaborations with leading educational institutes in the Ahmedabad region. The company has partnered with Narayana Business School, Kadi Sarva Vishwavidyalaya, LJ University, St Kabir Business School, Amity Business School, Swarrnim University, Kalol Institute of Technology & Research Center (KITRC) and National Institute of Management, with plans afoot to further expand its partner institution network in and around Gujarat’s largest city.
With this move, Propelld has now cemented its leadership status in key metro cities including Mumbai, Pune, Bengaluru, Indore and Kolkata; marching on its mission to democratize access to education by ensuring its flexible education financing products are easily accessible to students hailing from different parts of the country.
Speaking on the company’s journey and its expansion into Ahmedabad city, Mr. Bibhu Prasad Das, CEO & Co-Founder of Propelld enthused: “We believe that to create the India of tomorrow, it is important to provide the country’s bright minds unhindered access to quality education.
At Propelld, we are playing our part by safeguarding students from predatory loan practices by helping them finance their education through our suite of flexible financing solutions.
With the mission of revolutionizing the face of education financing in our country, we set about expanding our partner network and are delighted to be collaborating with eight of Ahmedabad city’s most prominent educational institutions. Our ultimate goal is to be the preferred lending partner in the education financing sector, building upon our 360-degree lending approach and super easy loan process to help students fuel their educational dreams.”
Founded in 2019 by the electric trio of Bibhu Prasad Das, Victor Senapaty and Brijesh Samantaray, Propelld was the first to introduce innovative education loan financing solutions such as Study Now and Pay Later products as well as Income Sharing Agreements.
The company has a first-mover advantage in the education loan segment and has moved beyond traditional credit assessment techniques to launch collateral-free education financing. As a result, Propelld is helping thousands of students every year in meeting their loan repayment obligations with ease and removing the barrier to financial access.
Sharing his first-hand experience, Mr. Rana Hetav Rakesh – PGDM Student at Narayana Business School remarked: “Propelld proved to be incredibly beneficial for me as a student aspiring to enrol in a reputable B-school for a management course. I was genuinely impressed by the streamlined and effortless procedure they established, requiring only essential documentation.”
From an institute’s perspective too, Propelld is reimagining their role in the student onboarding process by eliminating their fee collection burden. In fact, the company’s lightning-fast loan disbursal process ensures no delay in the student enrolment process and helps them attract more students through their range of flexible education loan products.
Commenting on the advantages of collaborating with Propelld, Mr. Amit Pandya-Chief Account Officer at Narayana Business School said: “Ever since our collaboration with Propelld, our institution has experienced a notable, favorable influence on both our functioning and student achievements. Through the provision of educational loans via Propelld, we have successfully drawn in a broader range of capable and diverse students, overcoming their prior financial obstacles.
Furthermore, Propelld’s streamlined process for disbursing loans has relieved us of administrative complexities, enabling us to channel our efforts into delivering high-quality education. We extend our appreciation for the invaluable assistance and partnership extended by Propelld.”
Having pioneered novel student loan products that have assisted over 2,00,000 students in pursuing their educational dreams, Propelld is now focused on introducing direct lending products by leveraging its subsidiary’s NBFC license.
This should help the company tap into new markets with more competitive offerings and grow its total loan book to over ₹ 2,000 crores by FY24. With a 2,000+ partner network that is growing by the day, the Series-B funded Propelled is firmly on an accelerated growth path, one that is focused on organic expansion and building upon positive student testimonials.
