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Fintech firm ISFC in talks to raise $12 million in equity and debt
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In view of the pandemic, Hyderabad-based Indian School Finance Company (IFSC) is looking to extend interest-free fixed instalment loans and help drive schools towards digital transformation.
Hyderabad: Fintech startup Indian School Finance Company (ISFC) is in talks with family offices to raise fresh equity of Rs 50 crore and an additional Rs 50 crore in debt (about $12 million overall) through non-convertible debentures in its eighth round of funding.
The education sector lender, which is backed by US-based impact investor Gray Matters Capital and Caspian, has so far raised around Rs 150 crore in equity and disbursed around Rs 350 crore worth of loans.
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India: Student loan provider MPOWER raises $25m from Tilden Park
Photo: Pixabay
January 27, 2021
Bengaluru and Washington DC-based MPOWER Financing, which provides educational loans to international and DACA students, has raised $25 million in funding from Tilden Park Capital Management, a New York-based investment management firm.
The funds come in addition to the $9 million MPOWER raised last year from a clutch of investors including Breega, Potencia Ventures, AI8, Cometa, Zephyr-Peacock, 1776, Fresco Capital, 1994 LLC, and Goal Structured Solutions.
The funding proceeds will be invested in further automating MPOWER’s digital loan platform, which leverages proprietary underwriting technology to provide a loan decision to students within minutes, per a company statement.
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