What WeMakeScholars does

WeMakeScholars (legally WeMakeScholars EdTech) is a Hyderabad-headquartered, not-for-profit education finance platform founded in 2015 that helps students arrange financing for overseas education. The platform aggregates 26,000+ international scholarships across 190+ countries and connects students with 18 financial institutions (public-sector banks such as SBI, Bank of Baroda, Canara Bank, PNB, Union Bank; private banks including ICICI and Axis; and NBFCs such as HDFC Credila, Avanse, Auxilo, and InCred). Since launch, WeMakeScholars has facilitated approximately INR 4,800 crore (~USD 575 million) in loan disbursals, sanctioned 87,600+ education loans, and served 58,000+ students, capturing roughly 16.5% of all overseas education loans availed by Indian students.

The core technology is a web-based aggregation and matching platform that takes students through a 2-minute eligibility check, document upload, and side-by-side comparison of WMS-negotiated lender offers, with a dedicated loan officer assigned through disbursal. Supporting tools include an EMI calculator, INR-USD converter, loan takeover calculator, Section 80E tax rebate calculator, and a no-impact loan eligibility checker. LoanFlix, a YouTube series hosted by co-founder Damini Mahajan, has grown to 900+ videos and 10M+ views and serves as the primary top-of-funnel content engine, complemented by an SEO-optimised blog, an International Campus Delegate Program, and a Preferred Partner consultancy network (e.g., Global Degrees, New Edge Consultancy Services).

The business model is a lender-funded transaction-fee model: students pay zero service fees, while WeMakeScholars earns commissions from banks and NBFCs per successful disbursal, supplemented by referral arrangements with educational consultancies. The company is supported by India's Digital India Campaign under MeitY, holds an MoU with AICTE (signed October 2017), and has been recognised by NITI Aayog (2016), the Ministry of Education, and Forbes India DGEMS 2025 Select 200. WeMakeScholars is led by Co-founder & CEO Damini Mahajan alongside Founder Arjun R Krishna, operates with 101–250 employees, and reports no external funding rounds.

Name

WeMakeScholars

Legal name

WeMakeScholars EdTech

Website

https://wemakescholars.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

WeMakeScholars is India's largest education finance platform, aggregating 20+ lenders and 26,000+ scholarships to help Indian students arrange financing for overseas education, with zero service fees for students.

Ownership category

akta.pro rank

Product category

Education Finance Marketplace

NAICS

Mortgage and Nonmortgage Loan Brokers (52231), Nondepository Credit Intermediation (5222)

SIC

Loan Brokers (6163)

akta.pro primary industry

Student Loan Marketplace Lending (FSAKAHAE)

akta.pro secondary industries

Application Support, Matching Platforms & Scholarship Administration Services (EDAIAOAN), Scholarships, Grants & Education Benefits Administration (Financing-adjacent) (FSAKAEAM)

Keywords

• Education loan marketplace
• Study abroad financing
• Scholarship aggregation platform
• Student loan comparison
• Education finance aggregator

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Lender Referral Fees (B2B Commission): WeMakeScholars earns revenue from lenders (banks and NBFCs) for each student successfully referred and disbursed. The platform is free for students — zero service fee is charged to them. This is a transaction-fee model where revenue accrues upon loan disbursement, not at application. The company states 'We're paid by lenders, not by students.'
2. Preferred Partner / Consultancy Referrals: Educational consultancies (Preferred Partners) recommend WeMakeScholars to students for education loans. Revenue likely accrues through referral arrangements with these partners, though specific mechanics are not publicly detailed.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels11 records

Core offering

WeMakeScholars operates India's largest education finance marketplace that aggregates 20+ banks and NBFCs and 26,000+ international scholarships to help students finance overseas education. The platform is free for students and earns revenue from lenders via per-disbursal referral fees, with WMS-negotiated interest rate discounts (e.g., Credila 12.5% reduced to 10.2%). Dedicated loan officers guide each student from a 2-minute eligibility check through documentation, approval, and disbursal of loans up to INR 3 crore.

Product overview

WeMakeScholars is a Not-just-for-Profit organization and India's Largest Education Finance Platform. The core offering is a marketplace that connects students seeking study abroad financing with multiple lenders and scholarship opportunities. The platform comprises the main WeMakeScholars platform for scholarship and loan aggregation, featuring a database of 26,000+ international scholarships and partnerships with 20+ banks and NBFCs. Supporting products include LoanFlix (educational video series), HEST (scholarship test program), and various financial planning tools (EMI Calculator, Tax Rebate Calculator, Loan Takeover Calculator, INR USD Calculator, Loan Eligibility Checker). Additional services include University Express (DHL shipping partnership) and the International Campus Delegate Program (ICDP) for student ambassadors.

Differentiator

Problem solved

Functional benefit

Products and services

• WeMakeScholars Platform India's largest education finance platform that aggregates 20+ banks/NBFCs and 26,000+ international scholarships to help students finance overseas education; free for students with end-to-end loan officer support.
• Scholarships Database Database of 26,000+ international scholarships across 190+ countries, filterable by degree level (Bachelor's, Master's, MBA, PhD, Post Doc), country, subject, university, and scholarship type, updated weekly.
• Education Loans Service Loan comparison and facilitation service that lets students compare offers from 20+ banks and NBFCs (SBI, HDFC Credila, ICICI, Axis, etc.) with zero service fees, WMS-negotiated rates, collateral-free loans up to INR 75 lakh, secured loans up to INR 3 crore, and a dedicated loan officer from eligibility check through disbursal.
• HEST (Higher Education Scholarship Test) India's largest national-level scholarship test, funding up to INR 2 Crore with scholarships of up to INR 3 lakh per student for study abroad education.
• LoanFlix YouTube video series hosted by co-founder Damini Mahajan with 900+ videos and 10M+ views covering education loans, scholarships, country-specific study guides, and IELTS tips.
• International Campus Delegate Program (ICDP) Campus ambassador program recruiting university/college students to promote education financing awareness, offering a stipend of INR 3,500/month, a certificate of participation, and the potential of an HQ visit for top performers.
• Education Loan EMI Calculator Free tool that calculates education loan EMI in seconds using an accurate loan calculator.
• INR USD Calculator Currency conversion tool that helps students convert their Indian loan to USD and estimate international repayments.
• Loan Takeover Calculator Refinancing tool that helps students check whether switching their education loan to another lender would save money.
• Tax Rebate Calculator Tax planning tool that helps students calculate tax savings under Section 80E for education loan interest payments.
• Loan Eligibility Checker Eligibility assessment tool that allows students to check study abroad loan eligibility instantly in 2 minutes with no impact on credit score.
• University Express DHL partnership service offering students 40% discount plus 50% cashback on international shipping/courier for university or WES documents.

Quantifiable outcome

• 16.5% market share of all overseas education loans availed by Indian students
• +5 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered flagship, core and minor.

• FlyBy Aviation AcademyflagshipStrategic or Co-development Partner · 17 June 2026FlyBy Aviation Academy (Spain's EASA-approved flight training organization) partnered with WeMakeScholars to provide financial assistance to Indian students pursuing pilot training. Indian cadets will gain access to education loans from public and private sector banks and NBFCs, along with guidance on scholarships and government schemes to cover tuition, accommodation, living expenses, and equipment costs for flight training. This partnership targets India's rapidly growing aviation market where carriers are projected to require thousands of new pilots over the coming decade.
• All India Council for Technical Education (AICTE)coreStrategic or Co-development PartnerWeMakeScholars signed a formal MoU with AICTE in October 2017 (New Delhi) to spread higher-education financial awareness across Indian colleges. The partnership was signed with Prof. Anil D. Sahasrabudhe (Chairman, AICTE). This government partnership validates the platform's social mission and extends its reach into India's technical education ecosystem.
• Global DegreesminorChannel Partner/ Reseller/ DistributorGlobal Degrees (established 2015) is a preferred partner consultancy with 18 branches in Bengaluru. They help students achieve their dreams of studying abroad and recommend WeMakeScholars for education financing. The partnership expands WMS's reach through trusted local consultancy networks in India.
• New Edge Consultancy Services (NECS)minorChannel Partner/ Reseller/ DistributorNECS (established 2006, headquartered in Sydney, Australia) is an international overseas education consultant with 5 branches including Hyderabad and Vijayawada in India, and global partners in Australia, USA, New Zealand, Canada, Germany, and UK. They have served 23,439+ happy students and recommend WeMakeScholars education loans to their clients. Has 300+ global partners and 17+ years of experience.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• IDP Education: Global study-abroad placement and IELTS operator with adjacent education finance partnerships. Comparable to WMS in student lifecycle support but broader and more international.

Direct peers

• Buddy4Study: India's largest dedicated scholarship discovery and application platform with growing education finance content. Directly comparable to WMS on scholarship aggregation and student fintech for the Indian study-abroad cohort.
• Yocket: Graduate study abroad platform serving Indian applicants with admissions, loans, and visa services. Direct overlap on education loan facilitation for the Indian outbound market.
• Leverage Edu: Study abroad platform offering admissions counselling, loans, and test prep to Indian students. Overlaps with WMS on the loan facilitation funnel for overseas education aspirants.
• Auxilo Finserve: Education loan NBFC serving Indian students pursuing domestic and overseas education. Competes head-to-head with WMS-partnered lenders in the same non-collateral segment.
• InCred Finance: Diversified NBFC with a dedicated education loan vertical for Indian students. Overlaps with WMS on borrower acquisition and lender competition for the same funnel.
• Propelld: Indian fintech focused on education financing, offering loans directly to students. Competes with WMS's lending partners for the same Indian student borrower base.
• Avanse Financial Services: Education-focused NBFC offering collateral and non-collateral loans for Indian students studying in India and abroad. Directly comparable product and target market to WMS's lender side.
• HDFC Credila: Specialist education loan NBFC and one of WMS's top partner lenders. Comparable in product and target borrower; a key counterparty and potential disintermediation risk.

Emerging players

• CollegeDunia: Indian education discovery and admissions platform beginning to surface education loan products. Comparable on Indian student acquisition funnel but with weaker loan specialization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/wemakescholars
• YouTubeyoutube.com/channel/UCiWfw9XSLawu-Ytlh4A_3Hg
• Facebookfacebook.com/wemakescholars
• LinkedInlinkedin.com/company/3710426
• Instagraminstagram.com/wemakescholars

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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 WeMakeScholars