Propelld, a pioneering provider of education financing solutions, has entered into strategic partnerships with esteemed universities to enhance students’ access to higher education. Its customized financial assistance aims to support educational ambitions by removing the financial obstacles that students and their families frequently encounter.
The Memorandum of Understanding (MoU), which establishes the new partnerships, has been signed with Quantum University Dehradun/Roorkee, Dehradun’s Doon Business School, Noida’s AAFT, Indian School of Hospitality and Vishveswarya Group of Institution.
Propelld provides its partnering universities with a range of services, including student-friendly, collateral-free education loans. Its quick turnaround times (TAT of up to two days) and low documentation requirements ensure a hassle-free experience for students. The platform’s technological expertise guarantees a seamless, end-to-end digital application procedure for deserving applicants and streamlines processes such as fee reconciliation and management for educational institutions.
Speaking on the collaboration, Brijesh Samantaray, Co-founder of Propelld, said:
We are excited to embark on these partnerships with leading universities. The new alliances reflect our commitment to democratizing access to education in India. Our tech-driven approach allows us to offer customized loan products and seamless EMI options to students, thereby eliminating immediate financial burdens from their learning journeys. We have empowered over 2,50,000 students and partnered with more than 2000 institutes so far and are determined to grow this number with every passing day.
By joining with these leading institutions, Propelld is reaffirming its leadership in the educational financing sector and demonstrating its commitment to democratizing education through the use of technology. The company is confident that these partnerships will make it easier for everyone to pursue higher education, which will play a significant role in expanding the educational ecosystem.
Propelld was founded by a dynamic trio, Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray, in 2017 and led the way in developing innovative financing solutions for education loans. They revolutionized the industry by introducing new concepts like alternative underwriting and approval based on future revenue, breaking the norm of creditworthiness tests. With a first-mover advantage in the education loan segment, the firm transcended conventional credit assessment methods to offer collateral-free education financing. This approach targets profiles typically overlooked by banks and other NBFCs, promoting financial inclusion and making quality education accessible to all, thereby fostering a sense of social responsibility and inclusivity.
