Chennai: Auxilo Finserve, a prominent Non-Banking Financial Company (NBFC), has unveiled its ambitious plan to provide funding to more than 10,000 schools and educational institutions across India by the year 2028.Specializing in offering education finance to students, schools, and colleges in India, Auxilo Finserve Private Limited is geared towards supporting educational institutes in various aspects. The company aims to finance capacity enhancement, land acquisition for premises expansion, upgrading teaching facilities, and replacing high-cost debts for educational institutions.In its commitment to bolster the entire education ecosystem in India, Auxilo plans to extend financial support to a diverse range of educational entities, including play/pre-schools, K-12 schools, boarding schools, colleges, universities, vocational colleges, skill-based training institutions, coaching centers, school bus loans, and education-centric small and medium enterprises (SMEs). This includes sectors such as book publishing, digital content provision, IT solutions, stationery supply, furniture production, and uniform distribution, among others.Neeraj Saxena, MD & CEO of Auxilo Finserve, commented on the Education Institution Loan (EIL) business, stating, "We initiated educational institution funding in March 2018, but the impact of the pandemic slowed down our plans in the coming years. With things returning to normalcy, we are now aggressively pursuing this segment."While Auxilo Finserve is already established in southern states like Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, the company is actively strengthening its operations in crucial states such as Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, Haryana, Uttar Pradesh, Odisha, Jharkhand, and Chhattisgarh in a phased manner.Mr. Saxena emphasized, "Auxilo aims to reach out to schools seeking to improve their educational infrastructure for the enhancement of education quality, research, and modernization of existing facilities."Neeraj Sharma, Chief Business Officer for Education Institution Loan, shared the company's expansion plans, stating, "Our goal is to address the loan requirements of education institutions across India. After establishing our presence in southern, central, and western states in this financial year, we plan to enter eastern and northern states in the next financial year."To date, Auxilo has provided financial assistance to over 165 educational institutions for infrastructure expansion and working capital requirements. The company has also extended education loans to more than 10,000 aspiring students across 1,250 universities and educational institutes in over 31 countries.In July 2023, Auxilo Finserve successfully raised INR 470 crore from a group of funds, including Tata Capital Growth Fund II, Trifecta Leaders Fund-I, and Xponentia Opportunities Fund-II, along with its existing shareholder ICICI Bank. The company's Assets Under Management (AUM) for FY 2020-23 has experienced a robust 52.7% Compound Annual Growth Rate (CAGR), currently standing at approximately INR 2,500 crore.