What Edgro does

Edgro Finance Private Limited is an RBI-registered Non-Banking Financial Company (NBFC) that provides education loans to students pursuing higher education in India. Founded in 2022 and commencing operations in July 2023, Edgro operates as a subsidiary of Propelld (Bluebear Technology Private Limited). The company targets tier II and tier III city students, particularly those with thin credit files who are underserved by traditional lenders, and applies an alternative credit assessment methodology that evaluates a learner's current financial situation rather than relying solely on historical credit scores. Its multi-product portfolio includes B2B2C Education Loans (interest up to 36%), Higher Education - Domestic (up to 25%), Higher Education - Abroad (up to 20%), and Unsecured Personal Loans (up to 30%), all carrying processing fees up to 5% and supporting both fixed and floating rate structures.

Edgro's technology and distribution architecture is tightly coupled with parent Propelld: the Propelld.com Digital Lending Application (DLA), operated by Bluebear Technology, serves as the exclusive customer-facing platform for loan applications, EMI payments (via debit card, net banking, wallet, or UPI), and repayment management. The NBFC's operating stack is assembled from multiple third-party service providers, including Experian for credit information, Novel Patterns and Brokentusk for credit assessment, DigioTech/Hyperverge/Onfn for loan approval and LMS, TSS Consultancy for AML screening, LeadSquare for customer acquisition, and Deepcall/Ozontel for customer service operations. Loan agreements are localized in 8 Indian regional languages to support linguistic accessibility.

The company's revenue model is transaction-based, generating income from interest on disbursed loans, processing fees (up to 5%), and ancillary charges including late payment fees (Rs 25/day), bounce charges (Rs 350/instance), and prepayment penalties (up to 4% of principal outstanding). Edgro raised $25 million in debt funding in May 2024 from nine lenders, including Credit Saison India and AU Small Finance Bank, to scale its loan book across tier II and III markets. Annual loan disbursements reached Rs 600 crore, though the company remains classified as NBFC-Base Layer pending growth to Rs 1,000 crore in balance sheet assets.

Name

Edgro

Legal name

Edgro Finance Private Limited

Website

https://edgrofin.com

Company type

Private

Founded year

2023

Operating status

Operating

Short description

Edgro Finance Private Limited is an RBI-registered NBFC subsidiary of Propelld that provides education loans to Indian students pursuing higher education, targeting tier II and III city borrowers with alternative credit assessment. It operates a multi-product portfolio including domestic, abroad, B2B2C, and unsecured personal loans, distributed exclusively through the Propelld.com digital lending application.

Ownership category

akta.pro rank

Product category

Education Finance (Student Loans)

NAICS

Nondepository Credit Intermediation (5222), Consumer Lending (522291)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Private Student Loans (Undergraduate & Graduate) (FSAKAEAB)

Keywords

• Education financing
• Student loans
• NBFC lending
• Higher education loans
• Digital lending platform

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Interest Income: Revenue generated from interest charged on education loans provided to students. Rates vary by loan product: Unsecured Personal Loans up to 30%, B2B2C Education Loans up to 36%, Higher Education Domestic up to 25%, Higher Education Abroad up to 20%
2. Processing Fees: Up to 5% processing fee charged on loan disbursements across all loan products
3. Penalty and Charges: Revenue from late payment charges (Rs 25 per day), bounce charges (Rs 350 per instance), prepayment/foreclosure charges (up to 4% of principal outstanding), and other service charges

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Edgro Finance Private Limited is an RBI-registered NBFC that originates and disburses private education loans to students pursuing higher education in India and abroad. Its loan portfolio spans B2B2C Education Loans (up to 36%), Higher Education Domestic (up to 25%), Higher Education Abroad (up to 20%), and Unsecured Personal Loans (up to 30%), with a processing fee of up to 5% on each disbursement. Customer acquisition, application intake, EMI servicing, and loan recovery are delivered through its sister entity's digital lending application, Propelld.com.

Product overview

Edgro Finance Private Limited operates as an NBFC (Non-Banking Financial Company) registered with RBI, providing education loans and financial services through a multi-product portfolio. The core offerings include unsecured personal loans (up to 30% interest), B2B2C education loans program (up to 36% interest), and specialized higher education loan products for domestic (up to 25%) and international students studying abroad (up to 20%). All loan products carry processing fees up to 5% and mandate management fees up to Rs 500. The company delivers its services through the Propelld.com Digital Lending Application platform, enabling customers to access loan servicing, make payments, and manage accounts. Loan agreements are available in both floating and fixed interest rate variants, with documentation offered in multiple Indian regional languages including Hindi, Tamil, Telugu, Marathi, Gujarati, Bengali, and Assamese to serve diverse borrower populations across tier II and tier III cities.

Differentiator

Problem solved

Functional benefit

Products and services

• B2B2C Education Loans Program A business-to-business-to-consumer education loan program enabling partner institutions, edtech platforms, and channel partners to offer education financing to end-student customers, priced at up to 36% interest with up to 5% processing fee. Originated by Edgro as the NBFC and distributed through the Propelld.com Digital Lending Application.
• Higher Education Loan - Domestic Education loans for students pursuing higher education within India, with interest rates up to 25% per annum and processing fees up to 5%. Available in floating and fixed interest rate variants under standardized loan agreements.
• Higher Education Loan - Abroad Education loans for students pursuing higher education at international institutions, with interest rates up to 20% per annum and processing fees up to 5%. Available in floating and fixed interest rate variants under standardized loan agreements.
• Unsecured Personal Loan Unsecured personal loan product offered by Edgro with interest rates up to 30% per annum and processing fees up to 5%, available under floating or fixed interest rate terms and subject to standard loan agreement conditions.

Quantifiable outcome

• Rs 600 crore annual loan disbursements

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration18 records

Feature1 record

Partnerships

18 partnerships are on record, tiered core and minor.

• Bluebear Technology Private Limited (Propelld)coreChannel Partner/ Reseller/ Distributor · 1 July 2023Propelld.com is the Digital Lending Application (DLA) for Edgro, handling customer acquisition, loan recovery, and associated customer service. Edgro started operations through Propelld in July 2023. Propelld is an education-focused lending platform and the parent company of Edgro.
• Teamlease Regtech Private LimitedminorOthersProvides compliance and regulatory technology services to Edgro
• Alp Consulting LimitedminorOthersProvides consulting services to Edgro
• Kratikal Tech Private LimitedminorOthersProvides cybersecurity services to Edgro
• Vinca Cybertech Private LimitedminorOthersProvides cybersecurity technology services to Edgro
• PAMAC Finserve Private LimitedminorOthersProvides financial services to Edgro
• All Checks Services LLPminorOthersProvides verification and background check services to Edgro
• OURSminorOthersProvides business services to Edgro
• Om Shree Sai AssociatesminorOthersProvides business services to Edgro
• Vemuganty Associates Management Consulting Private LimitedminorOthersProvides management consulting services to Edgro
• Bulwark Risk Protector Private LimitedminorOthersProvides risk management services to Edgro
• Zoho Corporation Private LimitedminorOthersProvides software and business tools services to Edgro
• InstaSafe Technologies Private LimitedminorOthersProvides cybersecurity services to Edgro
• Deepcall India Private LimitedminorOthersProvides customer service operations support to Edgro
• Astute Corporate Services Private LimitedminorOthersProvides corporate services to Edgro
• TSS Consultancy Private LimitedminorOthersProvides AML (Anti-Money Laundering) screening services to Edgro
• OzontelminorOthersProvides customer service technology support to Edgro
• Handy Online Solutions (OnGrid)minorOthersProvides operational support services to Edgro

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Propelld: Parent company of Edgro and its primary distribution channel. Propelld is an education-focused digital lending platform in India that originates student loans through its DLA — directly comparable as the embedded platform Edgro lends through.
• Avanse Financial Services: India-based NBFC focused on education loans for domestic and overseas higher education, including unsecured lending. Closest direct competitor in the same product category and customer segment as Edgro.
• Auxilo Finserve: Education-focused Indian NBFC providing loans for domestic and international education. Direct competitor with similar underwriting on thin-file student borrowers and similar B2B2C partner-institution distribution.
• InCred Finance: Diversified Indian NBFC with an education loan vertical serving tier II/III borrowers. Comparable in non-traditional underwriting approach and use of digital lending channels to reach underserved student segments.

Broad incumbents

• HDFC Credila Financial Services: One of India's largest dedicated education loan NBFCs, offering both domestic and abroad higher education financing. Comparable in product mix (private student loans) but materially larger, older, and bank-affiliated (HDFC group).
• IDBI Federal Life Insurance / SBI Global Ed-Vantage (parent lenders): Large public-sector and private banks offering secured and unsecured education loan products. Compete with Edgro on domestic education loans but typically require collateral, leaving Edgro's niche underserved.
• Tata Capital Financial Services: Diversified large Indian NBFC with a dedicated education loan offering (Tata Capital Education Loan). Direct overlap on student loan products with brand, balance sheet, and distribution advantages over Edgro.

Emerging players

• Leap Finance: India-focused education lender specializing in study-abroad loans with a digital-first model. Comparable on the Higher Education – Abroad product line and on serving students going to international universities.
• MPOWER Financing: Cross-border student lender serving international students (including many Indian students studying abroad). Comparable on the abroad-education lending product and on serving non-collateralized student borrowers.
• Liquiloans: Indian digital lending platform using LSP/NBFC structures. Comparable business model architecture (NBFC + DLA partner + alternative underwriting) to Propelld/Edgro, though serving different borrower segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Edgro