Jaipur, 02, June 2023: Education focused FinTech platform Propelld, has now become the leading partner of choice for Kota’s famed JEE/NEET coaching institutes. Partnering with Kota-based coaching institutes including Allen, Motion IIT, Resonance, ATP Star, Career Point, and Aakash, Propelld will provide timely financial assistance to students from economically challenged backgrounds.
Kota attracts thousands of students aspiring to crack entrance exams such as JEE and NEET every year. The 40 medium/large coaching institutes based in this city account for ~30% of the total admissions into the various IITs every year. However, there is no financial respite from the extra expenses of hostel, food and study material costs for students already struggling to fund their higher education.
Commenting on their collaboration with premier coaching institutes in Kota, Nikunj Doshi, Chief Business Officer, Propelld, said: “While these coaching institutes are transforming society by empowering students to achieve their dream, they remain largely unaffordable for those from Tier2 and Tier3 cities. To provide every student a fair chance to aim for India’s premier medical and engineering institutions, we have partnered with Kota’s top coaching institutions to provide the necessary financial support and guidance to such students. Democratising the educational ecosystem one city at a time remains our objective, meeting the challenges of awareness, education, and access to technology.”
Propelld offers a streamlined online application and quick-approval process, combined with flexible payment structures including a no-cost EMI option.
Backed by seasoned investors such as Stellaris Venture Partners, WestBridge Capital Management, Indian Angel Network, and India Quotient, Propelld has carved a niche for itself through its differentiated financial product offerings anchored in robust education-focused underwriting policies.
With over 2,000 educational institute partners under its fold, Propelld is a completely digital platform that incorporates factors such as a student's past performance, future potential, outcome of the course chosen and the institute's record, in addition to the parent/student's financial situation to provide more students the right to education. The company’s customised loan products offer unparalleled flexibility to students, parents, and educational institutions, factoring the course’s outcome, fee structure and course delivery to make financing solutions accessible to students from both rural and urban demographics.
About Propelld:
Propelld is a Bangalore-based FinTech startup specialising in education lending. The brand’s main vision is to democratize access to education and drive-up India’s gross enrolment ratio (GER) by removing financial barriers to the right education with customized financial products. Supporting the overarching education infrastructure, the company provides personalized loan products based on the course’s end-use and borrower’s profile. Their 100% digital hassle-free process is aimed towards realising the educational dreams of tier 2 and tier 3 students and their families Unlike traditional lenders, Propelld has a unique underwriting system which looks beyond the credit score and focuses also on the future potential of the student.
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