Propelld

lendingonline loanseducation loans

FOUNDING YEAR: 2016
LOCATION: India
Last Update: 19/01/2021

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About

Education loans for higher education are increasing every year. Banks that give these loans have their highest NPA’s (around 12%) in these loans. Students have a hard time securing these loans, ensuring the right collateral and guarantor, take career choices influenced by these loans and have a hard time paying back. There is little private money playing around because of the risks although the market is huge (around $15bn). We propose to introduce a new financial product that provides students with flexibility, and shifts part of the risk to investors with the capability of taking and managing that risk. We solve the problem of high education loan repayments by providing flexibility of payments to help students manage their education loans and pursue career choices unhindered by such loans.

MEDICI Analysis

Propelld is an education financing platform that helps students to repay their loans. It has partnered with various universities and institutions to help the students for providing loans.

Focus

PRODUCTS & SERVICES

Propelld offers an education financing platform that leverages proprietary employability algorithm to calculate the propensity of a student to repay the loans. It analyzes various data points like schools, academic performance, stream and work experience before offering loans to students.

REVENUE MODEL

The company has two plans are: fixed minimum payment: where the monthly payment is fixed throughout the tenor and will continue till the tenor ends or if the student reaches the maximum repayment cap variable payment: the monthly payment which is a percentage of the student's income and will start only when the student starts earning.

MAIN CLIENTS

Students

EXISTING PARTNERSHIPS

RETROLOGO

PRIMARY PROBLEM SOLVED

Increasingly high cost of education, their low co-relation with the value a student derives, difficulty in securing education loans because of the unavailability of guarantor and collateral with most students, debilitating terms that ask for high repayments and put students in a liquidity crunch early in their careers, with limited options - are harmful for talented students and result in non-payments and NPA’s for banks.

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

8,489

AVERAGE VISITS (6 MONTHS)

6,247

MONTHLY VISITS GROWTH

-2.57%

VISIT DURATION

478

VISIT DURATION GROWTH

20.39%

PAGE VIEWS VISIT

5.45

PAGE VIEWS VISIT GROWTH

10.37%

BOUNCE RATE

21.77%

BOUNCE RATE GROWTH

-3.83%

GLOBAL TRAFFIC RANK

1,274,639

MONTHLY RANK CHANGE

-406,969

MONTHLY RANK GROWTH

-24.2%

Innovation Programs

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Propelld

About

Education loans for higher education are increasing every year. Banks that give these loans have their highest NPA’s (around 12%) in these loans. Students have a hard time securing these loans, ensuring the right collateral and guarantor, take career choices influenced by these loans and have a hard time paying back. There is little private money playing around because of the risks although the market is huge (around $15bn). We propose to introduce a new financial product that provides students with flexibility, and shifts part of the risk to investors with the capability of taking and managing that risk. We solve the problem of high education loan repayments by providing flexibility of payments to help students manage their education loans and pursue career choices unhindered by such loans.

Focus

PRODUCTS & SERVICES

Income linked financing product, credit appraisal and monitoring

TOP PROBLEM SOLVED

Increasingly high cost of education, their low co-relation with the value a student derives, difficulty in securing education loans because of the unavailability of guarantor and collateral with most students, debilitating terms that ask for high repayments and put students in a liquidity crunch early in their careers, with limited options - are harmful for talented students and result in non-payments and NPA’s for banks.

PRODUCT DEVELOPMENT STAGE

PROTOTYPE

People

NUMBER OF EMPLOYEES

1-10

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO