Auxilo Finserve Private Limited, an education ecosystem non-banking financial company (NBFC), on Tuesday, announced its foray into Gujarat to cater to burgeoning education financing market.

A Reserve Bank of India (RBI) registered and approved NBFC, the Mumbai-based firm has earmarked Rs 100 crore to be disbursed as education loans by FY 2021 to fulfil two major education financing requirements, namely student loans for higher studies (overseas and domestic) and infrastructure upgradation for schools as well as other institutions in Gujarat.

In a statement, the company said it recognises the students’ interests in new-age courses including, robotics, applied sciences, artificial intelligence, sports management, digital marketing, film-making etc and would facilitate fast processing loans through its door-step services and tailor-made loan structuring.

It offers loans that cover up to 100 per cent of the financing for pre-admission requirements, tuition fees, pre-visa disbursal, air-travel fare and other aspects of the fees.

Auxilo Finserve would also process the financing to entrepreneurs and owners of private schools and educational institutions in Gujarat. This would help support them in revamping their infrastructure and educational amenities through B2B focused-lending financing products.

Gujarat ranks ninth in India in the Education Development Index with an overall literacy rates close to 80 per cent.

Auxilo Finserve, which started its operations in October 2017, has supported over 1,000 students for studying in 600 universities across 20 countries. The NBFC has established dedicated centres in Mumbai, Hyderabad, Bangalore, Chennai, Delhi, Pune and Ahmedabad.