PhysicsWallah sells student loan portfolio to Auxilo
PhysicsWallah's lending arm, FinZ Finance, is selling nearly ₹96 crore in student loans to Auxilo Finserve, a specialist in education lending. This move marks PhysicsWallah's exit from direct lending as it pivots back to its main education business. The deal is set to wrap up within 60 days and will significantly scale back FinZ's operations, shifting future student loans to third-party lenders instead.
- FinZ selling ₹95.79 crore loan portfolio to Auxilo
- Transition expected to complete within 60 days
- Represents a large portion of FinZ's lending operations
- PhysicsWallah now focusing on its core education business
- Future loans to be handled by third-party firms
Sources covering this
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