In a country where education often collides with affordability, Propelld, a fintech company founded by three IIT Madras alumni, has gained recognition as a contributor to expanding access to education financing. What started in 2017 as a mission to bridge gaps in the education loan system has now grown into a ₹4000+ crore disbursal engine, supporting over 4LAKH+ students across 17,890+ pin codes in 28 states.
Propelld’s ₹4000+ Cr Education Model: Expanding Access To Learning In Bharat Without Collateral
Founded in 2017 by Bibhu Prasad Das, Victor Senapati, and Brijesh Samantaray, Propelld is a fintech company focused on enhancing education financing in India.
As of 2025, Propelld focuses on addressing financial inclusion challenges in India: king higher education, coaching, upskilling, and overseas education truly accessible, without collateral, complex paperwork, or discrimination based on background.
India’s education loan market is experiencing rapid growth, but deeply unequal. According to CRISIL, the overall education loan portfolio in India touched ₹1.65 lakh crore (₹1,655 billion) by December 2023. However, access remains skewed. Only a small segment of Indian students, mainly those heading to top-tier institutions or studying abroad, can secure formal education loans from traditional lenders. 57% of the total education loan portfolio now goes toward overseas education, as of 31st December 2023. This signals a growing appetite for international degrees, but also reveals the exclusionary nature of credit access since students who want to access a loan for domestic education largely remain out of reach for banks and mainstream NBFCs.
Propelld was founded by three IIT Madras alumni and childhood friends: Victor Senapaty, Bibhu Prasad Das, and Brijesh Samantaray. Despite holding high-paying jobs, the trio aimed to create a venture with lasting social impact. In early 2017, they identified a significant mismatch between how education loans were being offered in India and what students needed. After several months of research, they developed an alternative underwriting model aimed at expanding access to education financing by moving beyond traditional metrics like collateral and credit scores. This led to the founding of Propelld, a platform designed to support students who might otherwise be unable to secure financial support.
Unlike traditional banks, Propelld offers education loans up to ₹30 lakhs with zero collateral. The company is recognized for its alternative underwriting model. Rather than rejecting applicants for lack of CIBIL score or formal ITRs, Propelld uses a household-level financial assessment, factoring in informal income, the earning potential of students, the institute's reputation and support structures. This approach enables the company to serve students from farming families, daily wage earners’ children, and first-generation learners without traditional guarantors. Loan approvals are typically completed within 24–48 hours, through a fully digital journey with minimal paperwork; no long queues, branch visits, or unnecessary scrutiny.
This impact is noticeable in professional courses such as medicine. Propelld offers an inclusive financing solution through its Education Loan for MBBS, enabling aspiring doctors from modest backgrounds to pursue education without financial barriers.
Despite lending to profiles banks typically avoid, Propelld has maintained a < ~1% NPA, showing that inclusion can be successful when paired with smart credit design.
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As of today, Propelld is the only domestic education-focused lender in India operating across all key verticals. This approach allows the company to address existing demand and contribute to expanding access within India’s evolving educational landscape.
In 2023, Propelld enhanced its model by launching Edgro, its fully-owned, RBI-registered NBFC. This has enabled Propelld to manage underwriting, pricing, disbursal, and collections, providing a more streamlined and efficient experience for its customers. With Edgro, Propelld now manages the entire lending lifecycle, allowing for rapid innovation, better customer experience, and increased agility in serving low-credit, low-income households that are often bypassed by traditional lenders.
Propelld has raised ₹507 crore (~ USD 61 million) in total equity funding. Its most recent Series D round in May 2025, led by WestBridge Capital, raised $30.5 million, adding further momentum to its expansion across India and into the overseas education segment. Other investors include Stellaris Venture Partners and India Quotient, all aligned with Propelld’s vision of long-term impact.
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Propelld continues to explore opportunities for broader impact. As the education landscape evolves, the company remains focused on emerging areas such as overseas education for students from Tier 2 and 3 cities, financing for skill development programs, and supporting learners in geographies that have traditionally seen limited access to credit. It is also evaluating more adaptable repayment structures that align better with the varied financial circumstances of Indian households, aiming to offer greater flexibility and affordability where possible. As co-founder Bibhu Das puts it, “We’re not here to give loans. We’re here to remove financial friction from education. That’s what drives everything we build.”
Propelld is helping bridge the financial gap in diverse educational journeys, whether it’s a student preparing for competitive exams, someone from a small town pursuing higher education abroad, or a working professional looking to upskill. By addressing the limitations of traditional lending systems, the company is contributing to a broader shift in how education is financed in India.
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About Propelld
Founded in 2017 by Bibhu Prasad Das, Victor Senapati, and Brijesh Samantaray, Propelld is a fintech company focused on enhancing education financing in India. Through innovative models like future income-based approvals and alternative underwriting, Propelld offers collateral-free loans to students often excluded by traditional lenders. With partnerships across 3000+ institutes and a presence in 17,890 pin codes, it has disbursed over ₹4000+ crore in loans, supporting more than 4 lakh students. Operating across all 28 states and 8 union territories, Propelld aims to make quality education accessible for every deserving learner, especially from underserved and remote regions.
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