A provider of student loans, Lorien Finance, has raised $1.8 million (about Rs 14.8 crore) in seed fundraising, with Venture Catalysts as the lead investor. The funding round was also joined by TSM Ventures and a number of angel investors, including Kunal Shah (Cred), Suhail Sameer (Ex-BharatPe), Aman Gupta, and Sameer Mehta (boAt), among others.

Nikhil Mudgal founded Lorien Finance in 2021, a fintech company that offers Indian students wishing to study in the US inexpensive student loans and retail banking.

According to the fintech site, school loans are available at lower, collateral-free interest rates starting at 8.5%. Nikhil Mudgal, the founder of Lorien Finance, commented on the situation.

According to the fintech firm, it makes it simpler for students to take out loans for higher education by not imposing foreign exchange fees, prepayment penalties, or hidden expenses. Dr. Apoorva Ranjan Sharma, the founder of Venture Catalysts, commented on the development.