Bombay : Student loan fintech platform Kuhoo announced on Tuesday that it has raised $20 million in seed funding from West Bridge Capital.
The platform aims to provide online loans to students aspiring to study at universities in India and abroad. Kuhoo said it was the first student loan provider to offer products in various fields such as engineering, MBA, executive education, online courses, coaching courses and even new-age courses. .
Prashant A. Bhonsle, founder of Kuhoo, said many talented students do not apply to good universities because they are afraid of imposing high tuition fees and living expenses on their parents.
“We want to change that. At Kuhoo, we combine our vast experience with advanced technology and data science to create risk and credit models. These models help us assess potential student employability and future earnings. for the different courses students enroll in. With this unique capability, Kuhoo can offer different products that are better suited to the individual profiles of students from varying family backgrounds,” Bhonsle said.
Kuhoo said he would partner with banks and other NBFCs, as well as top colleges and coaching centers around the world.
Deepak Ramineedi, Partner at West Bridge Capital, said, “We have been following India’s education sector closely for over a decade now. With the rising cost of education, we believe that India needs loan providers who fully understand the issues of students, parents and academic institutes. Assessing student employability and future earnings are two of the biggest challenges for existing banks and NBFCs that offer student loans. »
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