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Credenc.com - Potential Based Education Loans
http://credenc.com/Last activity: 20.05.2024
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Credenc is a digital education loans platform in the domestic higher education segment which enables finance to cover college expenses for India's brightest students basis their future income potential as opposed to the means available to their parents. Our fundamental belief is that providing access to finance for education is the most sustainable way of nation building. With ever increasing cost of education, there is an urgent requirement to solve the problem of access to finance for education.We work closely with more than 200 colleges across 17 cities and provide loans for both post graduate & undergraduate courses and have approved loans for more than INR 100Cr.
Credenc has a 3 stage evaluation process which includes profile assessment basis a digital application form, a future income score basis its AI data model with 15 million data points and lastly a skills assessment which check logic, basic math and communication skills.
Currently education loans approvals can take upto 2 months, with Credenc the average loan decisioning time is 5 days and the company will work to reduce this further. This is possible due to the entirely digital process and its proprietary technology. Students can get loan approvals from the convenience of their homes. Apply for your education loan at www.credenc.com
Credenc has a 3 stage evaluation process which includes profile assessment basis a digital application form, a future income score basis its AI data model with 15 million data points and lastly a skills assessment which check logic, basic math and communication skills.
Currently education loans approvals can take upto 2 months, with Credenc the average loan decisioning time is 5 days and the company will work to reduce this further. This is possible due to the entirely digital process and its proprietary technology. Students can get loan approvals from the convenience of their homes. Apply for your education loan at www.credenc.com
Location: India, Delhi, New Delhi
Employees: 51-200
Phone: +91 80 4748 8020
Total raised: $127.5M
Founded date: 2017
Investors 1
| Date | Name | Website |
| 30.09.2022 | Emphasis V... | em.vc |
Funding Rounds 2
| Date | Series | Amount | Investors |
| 19.07.2021 | - | $125M | - |
| 29.11.2019 | Seed | $2.5M | - |
Mentions in press and media 13
| Date | Title | Description |
| 20.05.2024 | Lending platform Propelld raised $25 M Debt funding for NBFC arm Edgro | The lending platform Propelld, which focuses on education, has raised $25 million in debt financing for Edgro, its fully-owned NBFC subsidiary. Nine lenders, including Credit Saison India Private Limited, AU Small Finance Bank, InCred Finan... |
| 28.09.2021 | Credenc Acquires New Age Digital Platform ObserveNow | The Strategic Acquisition Will Help Credenc Enable More Education Loans across Diverse Verticals The Deal Will Expand Its Reach in Providing Financial Assistance to Students across India Credenc, an education lending fin-tech platform for h... |
| 19.07.2021 | Edtech firms MPOWER, Credenc get $125 mn in funding for business growth | Education funding firms MPOWER Financing and Credenc have got $125 million in combination of equity and debt investment to scale up business. The companies work with Indian students going abroad for education. MPOWER Financing raised an equ... |
| 19.07.2021 | Capital India to invest $25 mn in fintech firm Credenc | Capital India, which finances small and medium enterprises and provides affordable home loans, will invest $25 million (Rs 187 crore) equity and debt funding in Credenc to help the education lending fintech firm grow its book to Rs 3,000 cr... |
| 19.07.2021 | Capital India to invest $25 million in Credenc for education finance | Credenc offers education loans and to soon launch student-focused neo bank. Capital India has added another business to its portfolio by investing $25 million in mixed equity and debt in Credenc, an education lending fin-tech platform. The ... |
| 19.07.2021 | Capital India to invest $25 million in education lending fin-tech platform Credenc | Startup funding | Representative image Finance conglomerate Capital India on July 19 announced that it is all set to invest $25 million in an education lending fin-tech platform Credenc. With the new investment, Capital India is mulling to ... |
| 19.07.2021 | Education Loans Facilitator Credenc Receives $25 Million from Capital India | Capital India, a financial conglomerate, has invested USD 25 million in a mix of equity & debt in Credenc, a fintech-focused on education loans. With this investment, Credenc is looking to build a loan book of $400 million by 2025. The ... |
| 29.11.2019 | Indian EdTech startup Credenc scores $2.5 million led by Omidyar Network to grow its education loans platform | Getting student loans for higher education in developing countries is a daunting task. According to India-based EdTech startup Credenc, 30% of Indian students’ families sell assets to fund their education. 20% borrow from local money lender... |
| 23.10.2019 | Indian student loan platform Credenc raises $2.5m from Omidyar, others | Premium Credenc, an online platform for education loans, on Tuesday announced a fundraise of Rs17.8 crore ($2.5 million) in a seed-round, led by Omidyar Network India with participation from fintech focused venture capital firm EMVC , Bette... |
| 22.10.2019 | Student loan platform Credenc raises $2.5 million from Omidyar, others | Photo: Mint Student loan platform Credenc raises $2.5 million from Omidyar, others 2 min read . Updated: 22 Oct 2019, 10:11 PM IST Staff Writer The startup will use the funding to add support for 1,000 colleges across 50 cities over the nex... |
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