$20 Mn secured by Fintech Startup Kuhoo from Westbridge Capital so as to speculate in technology
- ByStartupStory | March 2, 2022
Kuhoo, a Mumbai-based student loan fintech startup has raised a whopping $20 Mn from Westbridge Capital in seed funding round. The fintech startup with this capital infusion aims to supply online loans to students who aspire to study in universities both in India and abroad. According to information by Kuhoo, it’s been claimed that the raised capital from the round will be equity funding, which will be used to augment technology, data science capacity, and creating product and distribution innovations.
Prashant A. Bhonsle, founder of Kuhoo said, “We combine our vast experience with advanced technology and data science to create risk and credit models. These models help us evaluate students’ potential employability and future incomes for various courses students enrol in. With this unique ability, Kuhoo can offer different products best suited to individual profiles of students from varied family backgrounds.”
In 2021 Kuhoo was established by Bhonsle, it offers student loans across several streams like MBA, executive education, online courses, coaching classes, and even new age courses. Products are being created to support student’s academic backgrounds, college, course rankings, and career prospects.
Kuhoo informed that it has on-boarded experienced global talents from across technology, data science, consumer, and student lending domains. It’ll partner with banks and other NBFCs together with top colleges and training centres across the globe with its launching of innovative products,
Eduvanz, an education loan provider raised INR 100 Cr in a Series B funding in an exceedingly round led by JuvoVentures, Sequoia Capital and Unitus Ventures, among others last year.he startup bagged $10 Mn in debt from multiple financial institutions before this round. Funds were deployed so as to expand its offerings before giving out an education loan, to develop a stronger information technology infrastructure further to enhance its artificial intelligence (AI) and machine learning (ML) capabilities for risk assessments.
Propelld, is another education-focused fintech startup led by Westbridge Capital together with existing investors Stellaris Venture Partners and India Quotientwhich secured about $35 Mn in Series B funding. It planned to use funds so as to grow the loan book rapidly with low credit penetration, and offer new products for various verticals within education in an exceedingly large segment.
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